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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