Quick Take: Chinese Biotech Firm Buys U.S. Clinical Researcher

Chinese biotechnology and medical-device developer WuXi AppTec Group has acquired U.S.-based clinical research company ResearchPoint Global, as the one-time New York-listed company seeks to fortify its overseas network.
The size of the deal was not disclosed, but the Chinese company said in a statement on Wednesday that it will help “expand WuXi’s clinical research capabilities in the United States and around the world.”
The deal will combine ResearchPoint with WuXi’s existing China-based clinical development service team, the statement said.
“This business combination lays the groundwork for the creation of an integrated global clinical service organization with global expertise and a global network,” WuXi Chairman and CEO Li Ge said.
WuXi is a well-known pharmaceutical company that listed in New York in 2007 via the shell company WuXi PharmaTech (Cayman) Inc. It delisted in 2015 and relisted its subsidiaries WuXi Biologics (Cayman) Inc. and Shanghai SynTheAll Pharmaceutical Co. Ltd. in Hong Kong and on the over-the-counter New Third Board of the Shenzhen Stock Exchange respectively.
In July, WuXi filed a prospectus to list a third company, WuXi Apptec Co. Ltd., in Shanghai, completing WuXi’s listing plan.
Li had said earlier that the company left the U.S. stock market because investors there cared too much about short-term results, making it difficult to make large strategic investments.
Since then, WuXi has kept up its pace of overseas investments. In January, it formed an alliance with biopharmaceutical giant AbbVie Inc. and life-sciences startup Genomics Medicine Ireland Ltd. to conduct population genomics research. In November, it created a strategic biologics development and manufacturing partnership with Australia’s Prima Biomed Ltd.
Contact reporter Coco Feng (renkefeng@caixin.com)

- 1Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler
- 2Meituan Enters Open-Source AI Race With LongCat Model
- 3Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million
- 4Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches
- 5End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas