Biotech Chinese and Israeli Strategic Collaboration: Pontifax and WuXi PharmaTech (Cayman) Inc. (NYSE: WX)

Biotech Chinese and Israeli Strategic Collaboration: Pontifax and WuXi PharmaTech (Cayman) Inc. (NYSE: WX)

UPDATED on 12/15/2015

China’s WuXi raises a $290M VC fund with eyes on ‘cross-border’ biotech bets

By Damian Garde


WuXi PharmaTech, China’s largest CRO, closed an oversubscribed $290 million venture fund, turning its attention to biopharma startups at home and in the U.S.

Wuxi PharmaTech CEO Ge Li

The fund, which the company said exceeded its $200 million target, will bankroll investments in early-stage biotech and healthcare companies. WuXi’s first foray into VC, a $63 million fund debuted in 2011, bought the CRO stakes in 18 companies including U.S. biotechs Juno Therapeutics ($JUNO) and Agios Pharmaceuticals ($AGIO), plus Chinese upstarts Hua Medicine and Adagene.

Now WuXi wants to broaden its venture arm and deepen its presence in the growing biotech VC scene on two continents. The company plans to place its bets through deal-scouting offices in Shanghai and Boston, leaning on its fast-growing U.S. operation and decades of work in its native country.

“China and the United States are the two largest and most dynamic healthcare markets in the world and countries where our firm has deep investment expertise and experience,” WuXi Chief Financial Officer Edward Hu said in a statement. “The cross-border nature of our investment strategy and our appetite for early-stage innovation and entrepreneurship have aligned us well with the macro-trends in both countries.”

The move comes a week after WuXi abandoned its public listing and went private in a $3.3 billion deal led by founder and CEO Ge Li. The CRO, on pace for about $800 million in revenue this year, has been broadening its business model beyond traditional outsourced clinical trials, buying big into genomics and signing risk-sharing R&D deals with its pharma partners. And Li, joined by a syndicate of investors, believes its brightest future lies away from the public markets.

– read the statement

Related Articles:

WuXi Healthcare plots a $250M biotech venture fund for U.S., China

CRO giant WuXi is going private in a $3.3B deal

Biotech notches another $2B VC quarter, but can it last?


From: Gerard Loiseau <gerard.loiseau@bluewin.ch>

Date: Tuesday, December 15, 2015 at 12:38 PM

To: Aviva Lev-Ari <AvivaLev-Ari@alum.berkeley.edu>

Subject: China !!

UPDATED on 11/5/2015

WuXi pads its revenue on the way to a big buyout decision

By Damian Garde

Wuxi PharmaTech CEO Ge Li

Chinese CRO WuXi PharmaTech ($WX) extended its run of quarterly growth on the eve of a shareholder vote that could take the company private in a multibillion-dollar deal.

In the third quarter, WuXi boosted its revenue 23.1% to $213.6 million, driven by 18% growth in lab services, a 19.6% jump in small-molecule manufacturing services and a 66% leap in biologics services. Profits, however, tumbled by nearly 50% to $16.1 million due largely to charges related to foreign exchange and losses tied to joint ventures with PRA Health Sciences ($PRAH) and AstraZeneca ($AZN), the company said.

WuXi is not providing a forward-looking guidance because it is preparing for the possibility of becoming a private company in the coming months. In April a group led by founder and CEO Ge Li made an offer to take the company off the market in a $3.3 billion deal. A special committee formed by WuXi’s board has voted in favor of the transaction, and the idea will come before a shareholder vote on Nov. 25.

If the deal is approved, WuXi will become part of a newly formed parent company through an all-cash transaction that trades $46 for each of WuXi’s American-traded securities. The total represents a 16.5% premium over WuXi’s closing price before the offer came to light.

Meanwhile, the company has continued to expand its business beyond traditional CRO work and more in line with Li’s long-stated vision of becoming “an open-access capability and technology platform that enables anyone and any company [to] discover and develop therapeutic products to benefit patients.” That has meant embracing genomics through its NextCODE subsidiary, which has signed deals with hospitals around the world to provide patient screening, and expanding its footprint to include capacity for cell therapies and other next-generation therapeutics.

WuXi AppTec Launches Representative Office in Israel, Forms Strategic Collaboration with Pontifax

SHANGHAI, Oct. 30, 2014 /PRNewswire/ — WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States, today announced the establishment of a representative office in the Tel Aviv area of Israel.

The new office will promote WuXi’s broad platform of integrated R&D services to local customers. It will also collaborate with Pontifax, a leading healthcare-dedicated venture capital firm based in Israel, to invest in promising technologies in Israel, particularly those that can potentially advance WuXi’s capabilities.

“We welcome WuXi’s presence in Israel and believe the new representative office will be mutually beneficial to WuXi and the Israeli biotech industry,” said Tomer Kariv, CEO of Pontifax.

“We are excited to establish a presence in Israel and to contribute to one of the most dynamic healthcare innovation ecosystems in the world,” said Dr. Ge Li, chairman and CEO of WuXi PharmaTech. “We value the expertise that Pontifax has developed in Israel’s biotech industry and look forward to working closely with them to help many of their portfolio companies and other startup companies. This step advances WuXi’s mission of helping entrepreneurs in the global life sciences industry to realize their dreams of developing innovative products to benefit the world’s patients.”

About WuXi PharmaTech

WuXi PharmaTech (NYSE: WX) is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech’s services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec. Please visit http://www.wuxiapptec.com.

For further information please contact:

Dana Yarden, MD, MBA
Executive Director, Israel Business Development
+972-9-9725617 or +972-54-8085692

Ronald Aldridge
Director of Investor Relations

Aaron Shi
Associate Director of Corporate Communications

SOURCE WuXi PharmaTech

WuXi PharmaTech

Web Site: http://www.wuxiapptec.com


From: “PR Newswire for Journalists” <push_services@prnewswire.com>
Sent: Thursday, October 30, 2014 5:42 PM

Corporate Profile

Services & Solutions by WuXi AppTec WuXi PharmaTech (pronounced woo-shee pharma-tek) is a leading global contract R&D services provider serving the pharmaceutical, biotech, and medical device industries. The company is headquartered in Shanghai and has operations in both China and the United States. We provide a broad and integrated portfolio of laboratory and manufacturing services throughout the R&D process. Our services are designed to help our global partners shorten the time and lower the cost of R&D. The parent company is known as WuXi PharmaTech, and its operating divisions are known as WuXi AppTec (pronounced woo-shee app-tek)
WuXi PharmaTech is the product of the merger in early 2008 of WuXi PharmaTech Inc., a chemistry-based company founded in China in 2000, and AppTec Laboratory Services Inc., a U.S. company founded in 2001 with expertise in medical-device and biologics testing. WuXi PharmaTech Inc. expanded its services rapidly throughout the decade, offering discovery chemistry services in 2001; process development in 2003; research manufacturing in 2004; bioanalytical chemistry in 2005; discovery biology in 2006; toxicology and formulation in 2007; commercial manufacturing in 2009; genomics, clinical trial management and research reagents in 2011; and biologics discovery, development and manufacturing in 2012.Biopharmaceutical and medical device research and development is complex, high-risk, and expensive for our customers. Improving R&D productivity is vitally important not only for the continued success of life sciences companies but also for the health of our families and each of us. Our competitive advantage rests on these elements:

  • an experienced international management team;
  • a highly educated and trained workforce of about 7,000 employees, including about 6,000 scientists, the majority with advanced degrees;
  • broad technical expertise;
  • operational excellence;
  • world-class facilities in both China and the United States;
  • an intense focus on a diversified, high-quality customer base;
  • a flexible contractual approach; and
  • strong procedures to protect customers’ intellectual property.

The company’s client list includes most of the major pharmaceutical and biotechnology companies. As our customers recognize the value we bring, they give WuXi AppTec larger and more valuable contracts. In recognition of the key contributions we made to their success, WuXi AppTec has received awards from leading pharmaceutical customers, including Pfizer, Merck, AstraZeneca, Novartis, Genentech, Millennium, and other companies.

WuXi is recognized as a strong growth company that has delivered solid financial performance since its inception. Revenues totaled $499.9 million and GAAP net income totaled $86.6 million in 2012. Our management has strategies in place to build on this record and to sustain long-term growth. Key drivers of growth in 2012 are our expanding capabilities and capacity and high-quality services in China-based Laboratory Services; increasing utilization of our integrated drug development services for API manufacturing, IND-enabling toxicology studies and IND filings with the China SFDA and global regulatory authorities; strong growth in testing revenues for both biologics and medical devices in our U.S.-based Laboratory Services; an expanding pipeline in both research manufacturing and commercial manufacturing; and the ramp-up of biologics drug discovery, development, and manufacturing services. Success in these areas is expected to deliver strong customer benefit and drive growth in shareholder value for many years to come. Our goal is to be the outsourcing partner of choice from bench to market.


Services and Solutions – WuXi AppTec – WuXi PharmaTech

Discovery Services

WuXi AppTec provides pharmaceutical discovery services across the entire spectrum of the drug discovery process. Our pharmaceutical discovery services can be fully integrated to provide a flexible and customized solution for client’s specific project needs.

Lab Testing Division (LTD)

Lab Testing Division (LTD) is comprised of seven business units. LTD’s integrated services and solutions in the fields of Chemistry and Biology span from early screening to preclinical development and into clinical sample analysis. Leveraging other established WuXi businesses in MedChem, synthesis and formulation, LTD is well positioned to enable customers to accelerate their discovery processes and empower them to bring new, innovative medicines to patients.

API Development and Manufacturing (STA)

Shanghai Syn-The-All Pharmaceutical Co. Ltd. (“STA”) is a wholly owned subsidiary of WuXi AppTec which provides an integrated platform with “end-to-end” small molecule APIs/intermediates development and manufacturing capabilities from preclinical to commercial stages. We proudly support over 100 life-science clients worldwide and manufacture over 100 APIs per year.

Development Services

WuXi AppTec provides end-to-end API services from process R&D, to API manufacturing at phase I, II, III and commercial scale. The services also include pre-formulation studies, analytical development, stability evaluation and formulation development, all the way to CMC services. All of these services are integrated to help our clients quickly and seamlessly move NCEs from preclinical stage to patients.

Biologics Services

WuXi AppTec provides a seamless, high-quality, single-source approach for the development, testing and manufacture of biotherapeutics. This single- source strategy can reduce the time-to-clinic and can significantly decrease the cost of our customers’ drug development efforts.

Medical Device Services

WuXi AppTec is uniquely positioned to support product development from concept to commercialization, with industry leading comprehensive testing programs that help ensure regulatory submission success.

Chemistry Services

WuXi AppTec offers a complete spectrum of chemistry services, all led by experts in their respective fields: from synthetic chemistry to chiral separations, from small molecule to peptide/peptidomimetics, from nucleoside to fluorinated building blocks, from milligram synthesis to kilogram GLP scale-up, and from reagent service to compound management.

Toxicology Services

WuXi AppTec’s toxicology services feature a full-range of in-vivo and in-vitro non-clinical safety evaluation programs. As the uniqueness of each product requires a case-by-case approach, we partner with clients to ensure that all study components meet specific program objectives.

Bioanalytical Services

WuXi AppTec offers comprehensive and FDA/OECD/SFDA GLP-compliant bioanalysis services to support preclinical and clinical development for small molecule drugs, biologics, vaccines and PD biomarkers.

Clinical and Regulatory Services

WuXi AppTec has strong experience in clinical trial management and regulatory affairs consultation; our experts are able to provide in-depth support to help clients bring new drugs and devices to the market smarter and faster.

Genome Center

WuXi Genome Center is a leading global genomic sequencing provider. It offers a complete solution to tackle biological and clinical challenges by combining components of genomics, bioinformatics, disease biology and clinical expertise to advance drug discovery, clinical development, and personalized medicine.

Biological Reagents

Abgent, a WuXi AppTec company, is a leading provider of antibodies and related services for biomedical research and drug discovery. Our competencies lie in the development of high quality antibodies and related reagents for the study of neurodegenerative diseases, stem cells, autophagy, and model organisms. Our antibodies are rigorously validated and optimized to ensure accurate and consistent performance.


For further information please contact:

Pontifax: Investor Details


18 Investments in 13 CompaniesExits

2 IPOs

– See more at: http://www.crunchbase.com/organization/pontifax#sthash.7o6U0khk.dpuf


Ran NussbaumTomer Kariv


Herzliya, Israel

  • Office

    8 Hama 3236 Nofim St.

    Herzliya Pituach

    Herzliya, 46725


– See more at: http://www.crunchbase.com/organization/pontifax#sthash.7o6U0khk.dpuf


Venture capital Firm

– See more at: http://www.crunchbase.com/organization/pontifax#sthash.7o6U0khk.dpuf

Current Team (3)


– See more at: http://www.crunchbase.com/organization/pontifax#sthash.7o6U0khk.dpuf

Founded: 2004
Type: Venture Capital that does Early Stage Venture, Later Stage Venture, and Private Equity InvestmentsSectors:Biotechnology, Health Care, Pharmaceuticals

Pontifax Ltd. is a venture capital firm specialzing in investments in incubation, seed or startups, early, and mid stage. It seeks to invest in life sciences sector. The firm seeks to invest in companies based in Israel

– See more at: http://www.crunchbase.com/organization/pontifax#sthash.7o6U0khk.dpuf

Categories favored by Pontifax

– See more at: http://www.crunchbase.com/organization/pontifax/insights/categories#sthash.EKcOI6Ij.dpuf

18 Investments in 13 CompaniesExits
Headquarters:HerzliyaDescription:Venture capital Firm

– See more at: http://www.crunchbase.com/organization/pontifax#sthash.fWmB2WSO.dpuf

Arno TherapeuticsArno Therapeutics Private Equity

October 30, 2013
HeadSense MedicalHeadSense Medical Not Disclosed

July 8, 2013
Rewalk RoboticsRewalk Robotics Series D

June 17, 2013
TheraCoatTheraCoat Series A

May 21, 2013
cCAM BiotherapeuticscCAM Biotherapeutics Series A

September 15, 2012
Stimatix GIStimatix GI Not Disclosed

March 7, 2011
Avraham PharmaceuticalsAvraham Pharmaceuticals Series A

July 13, 2010
AposenseAposense Not Disclosed

May 23, 2010
Applied Immune TechnologiesApplied Immune Technologies Not Disclosed

April 26, 2010
ProtAbProtAb Series A

April 23, 2010
AposenseAposense Not Disclosed

August 20, 2008
CollplantCollplant Not Disclosed

April 1, 2008
CollplantCollplant Not Disclosed

April, 2007
CollplantCollplant Not Disclosed

February 13, 2007
CollplantCollplant Not Disclosed

September 4, 2006
CritiSenseCritiSense Not Disclosed

June 21, 2006
CritiSenseCritiSense Not Disclosed

June 8, 2005

– See more at: http://www.crunchbase.com/organization/pontifax/insights/co-investors#sthash.ivYx5BBy.dpuf

– See more at: http://www.crunchbase.com/organization/pontifax/investments#sthash.DB87s0tR.dpuf

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