WuXi Biologics Signed Letter of Intent for Long-Term Vaccine Manufacturing Contract
SHANGHAI, May 21, 2019 –Wuxi Biologics ("WuXi Bio") (2269.HK), a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, today announced that it has entered into a strategic partnership Letter of Intent (LOI) with a global vaccine leader, pursuant to which WuXi Vaccines will build a dedicated facility and supply a commercial product for the global market. WuXi Vaccines is a joint venture company to be established between WuXi Biologics and Shanghai based Hile Bio-Technology (stock code 603718.SH). The business model of WuXi Vaccines is to build world-class integrated platforms and CDMO model to enable global companies to develop and manufacture vaccines.
Under the LOI, WuXi Vaccines will build an integrated vaccine manufacturing facility including drug substance manufacturing (DS), drug product manufacturing (DP) as well as Quality Control labs (QC). The facility will be dedicated to manufacture 100% of the global market of one of our partner’s vaccine products. The value of the 20-year manufacturing contract is estimated to be more than $3 billion USD.
"This is a historic moment for WuXi Biologics and WuXi Vaccines as well as for the global vaccine industry. Due to process complexity, extensive analytic testing and rigorous regulatory standards, vaccines are difficult to manufacture and process and quality control are extremely critical for the quality of the product. This partnership with a global vaccine leader to exclusively manufacture a vaccine for the global market, first of its kind in the industry, is a further testimony to the technical strengths and premier quality demonstrated by WuXi Biologics," commented Dr. Chris Chen, CEO of Wuxi Biologics, "Vaccine CDMO is one of the next growth areas for WuXi Biologics. Once this project is initiated, our vaccine business will contribute substantially to the growth of WuXi Biologics. WuXi Biologics together with WuXi Vaccines will continue to provide our global partners with a robust and premier-quality supply chain network to produce high quality products to benefit patients worldwide, initially with therapeutic proteins and now with vaccines."
About WuXi Biologics
WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is a leading global open-access biologics technology platform offering end-to-end solutions to empower organizations to discover, develop and manufacture biologics from concept to commercial manufacturing. Our company history and achievements demonstrate our commitment to providing a truly ONE-stop service offering and strong value proposition to our global clients. As of December 31, 2018, there were a total of 205 integrated projects, including 97 projects in pre-clinical development stage, 94 projects in early-phase (phase I and II) clinical development, 13 projects in late-phase (phase III) development and 1 project in commercial manufacturing. With total estimated capacity of biopharmaceutical production planned in China, Ireland, Singapore and US reaching 220,000 liters by 2022, we will provide our biomanufacturing partners with a robust and premier-quality global supply chain network. For more information on WuXi Biologics, please visit www.wuxibiologics.com.