Chris Chen, WuXi Biologics CEO (Anthony Kwan/Bloomberg via Getty Images)

WuXi inks $1.5B GSK pact, a big biobuck bet but a blip in bil­lions lost from US un­ver­i­fied list

GSK is tap­ping in­to WuXi Bi­o­log­ics’ T cell-en­gag­ing an­ti­bod­ies in a deal worth as much as $1.5 bil­lion, as the UK drug­mak­er looks to fol­low suit of oth­ers in the T cell-en­gager field, which in­cludes Am­gen’s mar­ket­ed can­cer drug Blin­cy­to.

On­ly $40 mil­lion of the GSK deal will ini­tial­ly go to the Shang­hai-based con­tract re­search and man­u­fac­tur­ing gi­ant, but with a biobuck bet above $1 bil­lion, the Big Phar­ma sees lots of po­ten­tial. The pact is a boon to WuXi, which suf­fered a loss of bil­lions in mar­ket val­ue af­ter be­ing placed on the US De­part­ment of Com­merce’s un­ver­i­fied list last Feb­ru­ary. WuXi was re­moved from the list last month.

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