WuXi Biologics announced it 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 per cent interest of CMAB Biopharma Group (CMAB). The transaction is expected to close in the second quarter of 2021.
As a Contract Development and Manufacturing Organization (CDMO) based in Suzhou, China, CMAB provides comprehensive services from cell-line development, process development to clinical GMP manufacturing and has over 250 employees. 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.
Furthermore, WuXi Biologics and CBC will also establish a strategic collaboration to enable CBC portfolio companies to discover, develop and manufacture biologics.