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Chinese Delegation to Visit Medical Campus and SolorCity to Sign a Cancer Drug Manufacturing Business Contract

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Published on : Sep 22, 2015

According to the Athenex officials, Chinese delegation of senior officials will soon visit Buffalo with halts at places such as the Buffalo Niagara Medical Campus, SolorCity, and City Hall. Currently, the group is supposedly to be in New York City for a few days tour of the New York Genome Center. The tour will be led and held by Howard Zemsky, the president and CEO of Empire State Development Co., and Athenex, a company based in Buffalo. Athenex is at present focusing on building a cancer drug manufacturing and development business by targeting small and big scale markets in China and the U.S. From 14 to 300 employees, Athenex has grown rapidly during the past 18 months. Athenex, by purchasing four companies has successfully executed a strategy to drive the company’s worth to above $1 billion in 2016. 

Athenex is also considering to run an IPO, preferably on the Nasdaq stock exchange. At present, Athenex is located at the Hauptman-Woodward Medical Research Institute, but is falling short of space. New headquarters will be soon scouted by the company to fill-in the required space. The company also had a continuous discussion with the state officials of New York to have an economic incentive package. Flint Besecker, the COO of the company, presented a briefing document that proposed the bringing of the delegation to Buffalo, as a part of Xi Jinping, Chinese president’s first state visit to U.S. 

Xi Jinping is scheduled to land in Seattle and then will be heading to Washington D.C., then to New York City. Pony Ma, one of the largest shareholders in Athenex, will accompany the Chinese president, Xi Jinping. Chinese FDA and the Congqing officials, lately hosted a state dinner meeting for Athenex executives to discuss about Athenex’s private-public partnership with China. In the document, the bridge between China and the United States was discussed by Besecker.