WuXi Biologics Inc - China-based contract research, development & manufacturing organisation, offering end-to-end biologics solutions - Enters into a license deal with GSK PLC for one preclinical bi-specific T cell engaging antibody and the option of three additional bi- & multi-specific TCE antibodies developed using WuXi Biologics’ proprietary technology platforms. Says WuXi Biologics will get an upfront payment of $40 million and tiered royalties on net sales.
WuXi Biologics Chief Executive Officer Chris Chen says: ‘We are looking forward to enabling GSK to bring these potentially life-saving therapeutics to more patients worldwide.’
WuXi Biologics current stock price: HK$67.50
12-month change: down 14%
GSK current stock price: 1,427.60 pence, down 1.4% on Thursday morning in London
12-month change: down 12%
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