Press Releases

Hong Kong, Nov. 17, 2023 –WuXi Biologics (“WuXi Bio”) (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), congratulates its subsidiary WuXi XDC (stock code: 2268.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO) focused on antibody drug conjugates (ADC) and the broader bioconjugate market, listed on the Main Board of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) today.

WuXi XDC issued a total of 178,446,000 shares under the global offering at an offer price of HK$20.60 per share (being the high-end of the indicative offer price range). The company is expected to raise the gross proceeds in the amount of approximately HK$4,071 million assuming the over-allotment option in respect of 19,158,500 additional shares is fully exercised. Upon completion of the global offering, WuXi Biologics controls majority of the total issued share capital of WuXi XDC (assuming the Over-allotment Option is exercised in full) and WuXi XDC remains a subsidiary of WuXi Biologics.

WuXi XDC intends to use the net proceeds to enhance its capabilities and capacity worldwide, including facilities construction in Singapore and expanding manufacturing capacity in China, pursuing strategic partnerships and investment and acquisition opportunities, as well as advancing its technology platforms.

Dr. Chris Chen, CEO of WuXi Biologics and Chairman of WuXi XDC, said: “The successful listing of WuXi XDC on the Hong Kong Stock Exchange marks another important milestone for the company. Having witnessed firsthand the evolution of the company, from identifying unmet needs in the bioconjugate industry to establishing WuXi XDC as a trusted partner in this sector, I am excited for what the future holds. We are grateful for the trust and support of our global investors, customers, and partners as we continue to grow and evolve.”

Dr. Jimmy Li, CEO of WuXi XDC, said: “We are excited to embark on WuXi XDC’s next chapter. With our vision – linking innovation to health – we have built an industry-leading open and integrated technology platform with end-to-end bioconjugation capabilities. I would like to thank all the staff of WuXi XDC for their unremitting efforts. With this new start, we strive to accelerate our growth in capabilities and capacity, strengthen our position in the sector, and continue to advance our efforts to enable innovation and benefit patients worldwide.”

End-to-end CRDMO

WuXi XDC offers end-to-end services – from discovery to commercial production in bioconjugation. The company’s services span from antibody intermediates and other biologics intermediates, chemical payloads and linkers, to bioconjugate drug substances and drug products. The comprehensive one-stop GMP manufacturing services for ADCs and other bioconjugates cover production at both the clinical and commercial stages, meeting the growing client demand across the globe. With integrated capabilities and efficiencies, WuXi XDC has significantly shortened the ADC development timeline – taking only 13-15 months from antibody DNA sequence to Investigational New Drug (IND) filing, nearly cutting in half the average industry timeline. In recognition of these capabilities, WuXi XDC has been named the winner of the “Best Contract Development Manufacturing Organization (CDMO)” prize at the 2023 World ADC Awards.

Global leading discovery and development platform

After a decade of solid growth, WuXi XDC has built an integrated technology and service platform that extends from discovery, development, manufacturing, and quality controls to regulatory filings for ADCs and other bioconjugates.

The platform provides clients with extensive expertise in state-of-the-art conjugation technologies, complex discovery, industry-leading process development, and comprehensive analytical methods, as well as dedicated and specialized facilities. As of June 2023, 110 on-going integrated projects are under development at WuXi XDC, including 47 post-IND bioconjugate projects, among which 16 projects are in phase II/III.

About WuXi XDC

WuXi XDC Cayman Inc. (“WuXi XDC” or the “Company”, stock code: 2268.HK) is a leading global CRDMO focused on antibody drug conjugates (ADC) and the broader bioconjugate market. It provides end-to-end contract research, development and manufacturing services for bioconjugates, including ADCs. Its services cover antibody intermediates and other biologics intermediates, chemical payloads and linkers, as well as bioconjugate drug substances and drug products. For more information about WuXi XDC, please visit: www.wuxixdc.com.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2023, WuXi Biologics is supporting 621 integrated client projects, including 22 in commercial manufacturing.

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Forward Looking Statements

The information contained in this press release includes historical information about, and relevant to, WuXi XDC that should not be regarded as an indication of the future performance or results of WuXi XDC, or an indication that there has been no change in the information about and relevant to WuXi XDC since the date hereof or since the dates as of which information is given in this Presentation. This press release may contain WuXi XDC’s current beliefs and expectations regarding the indicated future dates. Such forward-looking statements are based on some assumptions about WuXi XDC’s operations or factors outside WuXi XDC’s control, and may be affected by a number of known and unknown factors, including factors beyond WuXi XDC’s control. Therefore, WuXi XDC’s actual performance may be materially different from these forward-looking statements. You shall not rely on such forward-looking statements. WuXi XDC, the parties involved in the issuance of WuXi XDC’s securities, or their respective affiliates, controllers, directors, managers, partners, employees, agents, representatives or advisors shall not be obliged to update or revise such forward-looking statements in response to new information, events or circumstances that occur after these dates.

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