Published on : May 05, 2015
WuXi Biologics announced that it has commenced construction on the US$150 million production facility which will be part of its biologics unit. The company further announced, the facility will be the largest in size biologics production facility in China.
It will be the largest plant in the world for the product of mammalian type cell cultures that will employ disposable bioreactors.
After completion by next year, the plant will house 14 bioreactors of disposable type having a capacity of 2,000 liters an two that will have 1,000 liters capacity.
WuXi Biologics is fully owned sister concern of WuXi PharmaTech. The parent company expects the new plant will add to its biologics’ pipeline products in short term, and will help maintain the company’ position in long term.
The parent company WuXi PharmaTech is making efforts to have a private holding for the firm. The move from the company is following a furious year after expanding in the areas of contract research, manufacturing services, and lab into e-commerce, clinical screening, and genomics.
The plans of the company also include a major plant announced in Philadelphia in the U.S. The plant is aimed for cell therapy products such as T cell chimeric antigen receptors therapies.
The CEO of the company and the capital partners at Ally Bridge Group (ABG) commented that the buyout would empower the stakeholders of the Chinese company a 16.2% premium.
The company’s CEO and ABG, on April 30 made a proposal to buy all of WuXi shares which they do not own at US$46 per share. This would lead the company to be valued at US$2.8 billion .