A signing ceremony between WuXi Biologics and Wuxi National Hi-tech District is held on Nov 11. [Photo/wnd.gov.cn]
Wuxi-based biomedical company WuXi Biologics will spend 3 billion yuan ($452.8 million) to carry out two new projects in Wuxi National Hi-tech District (WND), according to a signing ceremony held on Nov 11.
The company's CDMO (contract development and manufacturing organization) project in the Wuxi Free Trade Zone will receive a total investment of 3 billion yuan. The project will cover an area of about 5.3 hectares and will include an industrial base for research and development, pilot production and production of biomacromolecule drugs.
It will focus on the research and development and large-scale production of antibody drugs and recombinant proteins, the production of clinical raw materials and the commercial production of biological drugs.
WuXi Biologics will also spend about 1 billion yuan on a new innovation center. It will cover an area of 4.2 hectares and provide one-stop services related to workers, equipment, venues and experimental consumables for small and medium-sized entrepreneurial companies. It will also provide financial support for entrepreneurs by establishing venture capital funds and help in the applications of technological achievements.
WND Party Secretary Jiang Min said he expects the projects will promote the integrated development of the biomedical industry and the cultivation of innovative biomedical development models in WND.
Chen Zhisheng, CEO of WuXi Biologics, spoke highly of the business environment and industrial base in WND. He said that the new projects will help build a complete industrial chain base for ADC drugs as well as a biomedical innovation and entrepreneurship incubator in WND.
WuXi Biologics is a world-leader in providing open-access technology platforms for the development of biopharmaceuticals.
