ARTICLE | Deals
Wuxi Apptec moves to preserve its core interests, GLP-1R deals showcase breadth of China biotech’s dealmaking
By BioCentury Staff
December 31, 2024 10:42 PM UTC
Although 2024 drew to a close without the $1 billion-plus M&A transactions that capped 2023, the year’s steady beat of cross-border deals involving China biotechs continued until the ball was ready to drop over New York’s Times Square on New Year’s Eve. These deals included further signs of China biotechs moving beyond their traditional stronghold in oncology to other indications, and Wuxi Apptec making a move to protect its core interests.
On Dec. 24, Wuxi Apptec Co. Ltd. (Shanghai:603259; HKEX:2359) said it was selling the U.S. and U.K. operations of Wuxi Advanced Therapies, its cell and gene therapy unit, to New York investment firm Altaris Capital. The deal came against the backdrop of the Biosecure Act, which seeks to rein in Chinese genomics companies and CDMOs, and, more broadly, ongoing geopolitical tensions between Beijing and Washington…
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- Source: https://www.biocentury.com/article/654578/drumbeat-of-china-deals-steady-through-year-end