WuXi Biologics says bispecific platform could ‘transform the industry’

By Flora Southey contact

- Last updated on GMT

(Image: Getty/liulolo)
(Image: Getty/liulolo)

Related tags: Wuxi biologics, China, Bispecific antibodies

The Chinese CDMO announced plans to launch its bispecific platform, ‘WuXiBody’, in its half-yearly report, which records “phenomenal” revenue growth.

WuXi Biologics’ 2018 interim report​ indicates strong year-on-year growth for the contract development and manufacturing organisation (CDMO). Revenue was reported to be up by 61.2% on 2017 figures, with gross profit rising to 56.9% to RMB 414.7m ($60.6m).

While gross profit margin was down to 39.3% – as compared to 40.4% for the same period last year – the firm said it would have reported a figure of approximately 41.4%, when foreign currency impact was excluded.

The firm also announced greater investment into R&D, including RMB 56.2m this year to date, representing a year-on-year increase of 54.4%, which contributed to WuXi Biologics’ latest development platform, the ‘WuXiBody’.

“As a result of our R&D investment for the last three years, we are launching a new proprietary, potentially best-in-class bispecific platform, called WuXiBody, which will expedite bispecific development by 6-18 months and at the same time tremendously reduce bispecific manufacturing cost, a current limitation of most bispecific platforms,” ​said the firm in a statement​.

Bispecific antibodies bind to two different epitopes either on the same or on a different, target.

“We are excited about the launch of our proprietary, bispecific technology platform, which can potentially transform the industry,” ​added CEO Chris Chen.

In addition, the CEO said WuXi Biologics plans to explore entry into “new frontiers of biotherapeutics”​, such as cancer vaccines. “These new modalities will drive the future growth of WuXi Biologics,” ​said Chen.

Expanding beyond China

The report also highlights the firm’s investments outside of China. This year to date, the CDMO instigated capacity expansions in Ireland​, Singapore​, and the US​.

“These facilities [including investments in China] will increase our manufacturing capacity to approximately 220,000L, further expand our customer base, attract more local talent and ensure a global diversified and robust supply chain network,” ​said the company.

The CDMO also flagged an international development and manufacturing agreement with US-based Immune Pharmaceuticals for the production of monoclonal antibody (mAb) Bertilimumab.

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