WuXi AppTec Acquires HD Biosciences

WuXi AppTec has acquired HD Biosciences, a biology-focused preclinical drug discovery contract research organization (CRO), which will become a wholly-owned subsidiary of WuXi, and will continue to focus on growing its core competences.The acquisition will further strengthen WuXi's R&D capability from target validation to lead discovery and optimization, and expands its open-access enabling service platform.

Founded in 2002, HD Biosciences is headquartered in Shanghai with operating facilities in Beijing and San Diego, and offers plate-based pharmacology and screening capability and AGM-based target validation. The company also provides hit identification, lead discovery, in vivo pharmacology and other related services.

"We are excited about this acquisition and the great opportunities it brings along. HB Biosciences has a long-standing mission to grow into a major global player with distinctive core competences that could create special value for our clients," said Xuehai Tan, chairman and chief executive officer, HD Biosciences. "Merging with WuXi AppTec, a clear industry leader in drug R&D enabling services with enormous global exposure, resources and vision, will greatly speed up the process. We are confident that the integration will elevated our services to a new height and will enable us to better meet our growing customer needs."

"We are very pleased to welcome HD Biosciences to WuXi," said Ge Li, chairman and chief executive officer, WuXi AppTec. "During the past 14 years, HD Biosciences has developed into a global company with wide recognition, and this business combination is an important step in strengthening WuXi's biology and preclinical service capability. At WuXi, our commitment is to build the most comprehensive capability and technology platform in industry to enable anyone, and any company to discover and develop better medicines and healthcare products for patients, and to realize our vision that every drug can be made and every disease can be treated."