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JPM Highlights | WuXi Biologics CEO Dr. Chris Chen: Poised for Accelerated Growth
Jan. 16, 2025
JPM Highlights | WuXi Biologics CEO Dr. Chris Chen: Poised for Accelerated Growth
  • 151 new integrated projects in 2024, marking another record year. Over half of the new projects originated from U.S. clients.
  • A total of 817 integrated projects, including 66 Phase III clinical projects and 21 non-COVID commercial manufacturing projects.
  • “Win-the-Molecule” strategy contributed 20 external projects in 2024, including 13 Phase III clinical projects and commercial manufacturing projects
  • Seven global discovery projects enabled by WuXi Biologics, with a total potential transaction value exceeding $2.3 billion.

 

San Francisco, California, Jan. 16, 2025 – On January 15, Dr. Chris Chen, CEO of WuXi Biologics, delivered a keynote address at the 43rd J.P. Morgan Healthcare Conference. Dr. Chen shared the company’s recent achievements and future outlook.

 

Dr. Chen, CEO of WuXi Biologics, commented “Unleashing the power of its unique CRDMO business model, technology strength and operational excellence, WuXi Biologics is successfully executing its “Follow and Win the Molecule” strategies with notable achievements. In 2024, the company achieved robust results across its Research (R), Development (D), and Manufacturing (M) segments, marking another record year for newly-added projects. It is also expected to see accelerated business momentum with an elevated global network in 2025.”

 

Strong Execution of “Follow-the-Molecule” and “Win-the-Molecule” Strategies

 

WuXi Biologics’ “Follow the Molecule” strategy enables the company to grow alongside the lifecycle of client molecules. This approach ensures seamless service and efficiency across the entire value chain, from Research (R) to Development (D) and Manufacturing (M). By creating value for clients, WuXi Biologics has achieved a compound annual growth rate (CAGR) of over 50% from 2014 to 2023, significantly outperforming the industry average.

In 2024, WuXi Biologics added a record high of 151 integrated projects to its portfolio, bringing the total to 817. Over half of the new projects originated from U.S. clients, underscoring strong client trust and the company’s resilience amid external challenges. The company supported 66 Phase III clinical projects and 21 non-COVID commercial manufacturing projects, which fuel its future growth in manufacturing. Between 2017 and 2024, WuXi Biologics’ project count grew nearly sevenfold, preclinical project count grew fivefold, and late-stage and commercial projects increased significantly.

 

Through the “Win-the-Molecule” strategy, WuXi Biologics continues to secure late-stage and commercial projects. In 2024 alone, the company added 20 projects, including 13 Phase III and commercial projects. Since 2018, the number of “Win-the-Molecule” projects has doubled, showcasing the company’s technical capabilities and execution excellence. Notably, WuXi Biologics plays a pivotal role in Biopharma licensing collaboration, especially the deals with MNC pharmaceuticals.

 

CRDMO Fostering Future Opportunities

 

Over the past decade, the cornerstones of WuXi Biologics’ rapid growth have lied in its “Follow and Win the Molecule” strategies and the dedication of its industry-leading biopharmaceutical development team. WuXi Biologics is further cementing its leadership in biopharmaceutical services through its discovery technology platforms and application of single-use technologies(SUT) in commercial manufacturing, having completed more than 300 large batches of SUT manufacturing. These advances make Research (R) and Manufacturing (M) pivotal for future growth, alongside Development (D).

 

Research: Unlocking Revenue & Profit Upside

 

In 2024, WuXi Biologics’ Research (R) platform facilitated seven global discovery projects, securing $140 million in near-term payments and a potential total transaction value exceeding $2.3 billion. Over 50 projects now qualify for milestone payments and royalties, fuelling future revenue and profitability.

 

WuXi Biologics leads in pioneering new modalities services such as bispecific antibodies and antibody-drug conjugates (ADCs). The WuXiBody™ platform is instrumental in achieving these breakthroughs, with 44 discovery-stage projects, 5 chemistry, manufacturing and controls (CMC) and preclinical-stage projects, and 4 Phase I clinical trials. The company also partners with GSK, Curon Biopharmaceutical and MediGene to advance T-cell engager (TCE) therapeutics.

 

In ADCs, WuXi Biologics collaborates with Aadi Bioscience and Duality Biologics to develop therapies, leveraging its expertise in monoclonal antibody technology.

 

Development: Setting New Standards

 

WuXi Biologics continues to attract new clients for its development services. In 2024, the company signed 148 new Development (D) projects and expanded its diversified customer base, with Europe-based clients increasing by 120%.

 

The company continues to drive its technology strengths and optimize delivery timelines without compromising on quality. WuXi Biologics shortened the development time for monoclonal antibody projects from DNA to IND to 9 months, with a recent autoimmune disease project completed in just 6 months.

 

Manufacturing: Elevating the Global Network

 

WuXi Biologics has excelled in commercial manufacturing with its advanced processes and technologies. Using single-use bioreactors, the company achieved scalable manufacturing from 4,000 to 16,000 liters across global facilities, with a 99% success rate in batch production (2022-2024). In 2024, 16 process performance qualification (PPQ) projects were completed, while 24 PPQ projects are anticipated in 2025.

 

Over the past six years, WuXi Biologics has established itself as a leader and pioneer in SUT manufacturing, building a strong SUT commercial manufacturing capability. By leveraging scale-out and continuous process innovation, SUT manufacturing has been applied in over 300 batches of production, spanning from 4000 to 16000 liters across multiple facilities. The SUT manufacturing can achieve comparable COGs as stainless-steel reactors, providing more eco-friendly solutions. Notably, The SUT offers clients greater flexibility and a wider range of options. For example, the MFG 7 facility can meet the production needs for products at different stages, accommodating production scales from 4,000 to 16000 liters and various protein requirements.

 

The company’s world-class quality systems underpin these achievements. Its sites have successfully passed over 40 inspections by global regulatory agencies to date, achieving a 100% success rate in pre-approval inspections (PAI), including 22 conducted by the FDA and EMA.

 

  • Ireland Site: All three facilities achieved GMP certification and completed multiple 16,000-liter PPQ runs. The site is set to be profitable by 2025.
  • Worcester, U.S. Site (MFG11): This facility has been designed to be the biologics facility of the future, featuring fully automated technologies, six 6,000-liter single-use bioreactors, and one downstream production line. Upon completion, it will synergize with the Cranbury site (MFG18) to provide end-to-end services in the U.S., covering development, clinical and commercial manufacturing, thereby enhancing the company’s ability to support global clients.

 

A Leader in ESG and Sustainability

 

WuXi Biologics has made significant strides in sustainability, earning widespread industry recognition. It has achieved the highest AAA ESG rating from MSCI for two consecutive years, was included in the S&P Dow Jones Sustainability World Index, was awarded the Platinum Medal by EcoVadis, and was rated as the “Industry Top-Rated” and “Region (Asia-Pacific) Top-Rated” company by Morningstar Sustainalytics. In November 2024, WuXi Biologics’ Green CRDMO solutions were featured in the United Nations Global Compact (UNGC) “20 Best Practices for Sustainable Development” report.

 

WuXi Biologics is committed to providing innovative, end-to-end green biopharmaceutical solutions for global partners. By integrating green technologies into biopharmaceutical research, development and manufacturing, such as WuXiBody™, WuXiUI™, WuXiUP™, and single-use technologies, the company accelerates progress, enhances productivity, and reduces the Product Carbon Footprint by up to 80%.

 

2025 Outlook: Poised for Accelerated Growth

 

Looking forward, WuXi Biologics’ outlook for 2025 indicates accelerated growth. The company anticipates growth across multiple avenues, optimized operations, and enhanced resilience. By upholding its client-first philosophy and leveraging its comprehensive open-access platform, WuXi Biologics is advancing global biopharmaceutical discovery, development, and manufacturing. The company remains committed to creating higher value for clients and better outcomes for patients, charting a course for accelerated growth, and securing a healthier future for all.

 

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