Issue Date: July 20, 2015
WuXi Makes Financing Moves
An affiliate of contract research and manufacturing firm WuXi AppTec has registered with the U.S. Securities & Exchange Commission for a fund that will invest up to $250 million in the life sciences sector. The investment vehicle, WuXi Healthcare Ventures Fund II, would buy “significant equity stakes” in companies in the U.S. and China. The firm made a similar move in 2011, when it launched its self-funded $50 million WuXi Venture Fund. By year-end 2014, the fund had invested $36 million in 18 companies. WuXi says it made money on its investment and was able to market its services to the firms. Separately, WuXi has raised $80 million by selling 6% of its custom manufacturing subsidiary SynTheAll Pharmaceutical to 33 institutional investors in China. This is becoming a landmark year for WuXi, China’s largest chemistry-oriented contract research firm. In April, the company received an offer from its founder Ge Li and a consortium to take the firm private by delisting from the New York Stock Exchange. And in May, WuXi said it was buying, along with other Chinese companies, the California-based biotechnology firm Ambrx.
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