WXXWY - WuXi Biologics to acquire CMAB and form strategic partnership with CBC group

WuXi Biologics (WXXWY) has entered into a purchase agreement with CBC Group ("CBC"), a healthcare-dedicated investment firm, and other companies including Ming Bioventures under which WuXi Bio will acquire over 90% interest of CMAB Biopharma Group ("CMAB").The transaction is expected to close in the second quarter of 2021.WuXi Biologics and CBC will also establish a strategic collaboration to enable CBC portfolio companies to discover, develop and manufacture biologics.Upon transaction completion, WuXi Biologics will increase 7000L drug substance capacity ((MFG21)) and drug product capacity ((DP11)) for liquid and lyophilization within its global manufacturing network, the company said.

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WuXi Biologics to acquire CMAB and form strategic partnership with CBC group