WuXi AppTec Divests Cell and Gene Therapy Units to Altaris in Strategic Shift

Sale Agreement:
WuXi AppTec has agreed to sell its cell and gene therapy units, WuXi Advanced Therapies and Oxford Genetics, to US private equity firm Altaris134.

Reason for Sale:
The divestment is part of WuXi AppTec's strategic shift to focus on core businesses in chemistry, biology, and testing, amid concerns over the proposed US Biosecure Act12.

Financial Details:
The deal's financial terms were not disclosed, but the units contributed approximately 2.4% of WuXi AppTec's total revenue in the first 11 months of 202323.

Completion Timeline:
The transaction is expected to close in the first half of 2025, subject to regulatory approvals134.

Impact on WuXi AppTec:
The sale is expected to have a minimal impact on WuXi AppTec's overall revenue and earnings growth, allowing the company to allocate more resources to high-growth areas23.

Altaris' Strategy:
The acquisition aligns with Altaris' strategic initiative in the cell therapy sector, aiming to deliver life-changing therapies at scale4.

Sources:

1. https://www.yicaiglobal.com/news/chinas-wuxi-apptec-to-sell-cell-gene-therapy-units-to-altaris

2. https://www.ainvest.com/news/wuxi-apptec-s-strategic-shift-selling-advanced-therapies-unit-to-us-private-equity-firm-2412101034f57f04c62a1f58/

3. https://www.pharmamanufacturing.com/industry-news/news/55251777/chinas-wuxi-apptec-sells-advanced-therapies-unit-to-us-investment-firm-altaris

4. https://altariscap.com/news/altaris-to-acquire-u-s-and-u-k-cell-therapy-business-from-wuxi-apptec/