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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Wuxi Biologics Cayman Inc    2269   KYG970081090

WUXI BIOLOGICS CAYMAN INC

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Wuxi Biologics Cayman : CANbridge Pharmaceuticals expands partnership with Wuxi Biologics

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01/12/2019 | 04:40am EDT

Chinas CANbridge Pharmaceuticals has expanded its alliance with WuXi Biologics for the discovery, development and commercialisation of four additional drug candidates to potentially treat rare genetic chronic diseases.

As per the agreement, CANbridge holds exclusive regional or global rights to these drug candidates. In turn, WuXi Biologics will receive upfront and milestone payments as well as royalties.

WuXi Biologics will act as the exclusive clinical and primary commercial supplier for all the programmes.

CANbridge Pharmaceuticals founder, chairman and CEO James Xue said: With this expansion of our partnership with WuXi Biologics, CANbridge continues to broaden our presence in rare disease, with a goal of bringing to the market treatments that are developed in China.

These four new drug candidates target important rare disease indications for which there are either no available treatments in China or treatments with poor outcomes.

These candidates are next-generation therapies directed at medically-validated biological targets.

CANbridge and WuXi Biologics initially partnered in October last year to develop and commercialise a range of biotherapeutics targeting rare diseases.

The partnership combines CANbridges clinical, regulatory and commercial expertise with WuXis drug discovery, development and manufacturing capabilities.

First investigational New Drug (IND) application for the lead rare disease candidate from this programme is expected to be submitted later this year in China.

In the future, the partners also intend to develop the therapeutics on a global basis.

WuXi Biologics CEO Chris Chen added: This expanding partnership further validates our world-class technology platforms and capabilities.

Improving the availability of biologics for rare disease aligns with our mission of accelerating and transforming how biologics are developed and manufactured worldwide.

(c) International 2006-2019, SANA Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (HKD)
Sales 2019 4 502 M
EBIT 2019 1 284 M
Net income 2019 1 173 M
Finance 2019 2 142 M
Yield 2019 -
P/E ratio 2019 84,14
P/E ratio 2020 53,24
EV / Sales 2019 20,7x
EV / Sales 2020 13,6x
Capitalization 95 390 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 97,2  HKD
Spread / Average Target 25%
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Managers
NameTitle
Zhi Sheng Chen Chief Executive Officer & Executive Director
Ge Li Non-Executive Chairman
Shao Hua Lu-Wong Chief Financial Officer
Weichang Zhou Executive Director, Chief Technology Officer & SVP
Edward Hu Non-Executive Director
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