WuXi AppTec has entered into a definitive agreement to sell the U.S. and UK based operations of WuXi Advanced Therapies, its cell and gene therapy unit, to New York-based health care investment firm Altaris.
Following the closing of the transaction, Advanced Therapies will be renamed and will move its headquarters to the U.S., operating as a fully owned portfolio company of Altaris. Advanced Therapies currently operates five facilities across the U.S. and U.K.
All other WuXi AppTec operations remain unchanged, including the Shanghai-based CDMO’s major business units — WuXi Chemistry, WuXi Biology and WuXi Testing.
The transaction is expected to close in the first half of 2025.
WuXi has spent the past year operating under the looming shadow of the BIOSECURE Act, legislation that would prohibit U.S. federal funding to companies working with the Chinese providers named as "companies of concern." Both WuXi AppTec and WuXi Biologics are on the list. The companies got a reprieve earlier this month when senators excluded the legislation from a key defense spending bill.
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