WuXi AppTec (02359) plans to sell its WuXi ATU business in the United States and the United Kingdom.

WuXi AppTec (02359) announced that its indirect wholly-owned subsidiaries, WuXi ATU (Ireland) Holding Limited and WuXi ATU (Hong Kong) Limited (referred to as "WuXi ATU entities"), have signed a Stock Purchase Agreement with Altaris LLC (including its controlled entities, "Altaris") on December 24, 2024 (U.S. time, after the trading hours of the Hong Kong Stock Exchange). Under this agreement, the WuXi ATU entities have agreed to sell the entire equity of WuXi Advanced Therapies Inc. (Advanced Therapies), the U.S. operating entity of the WuXi ATU business, and the entire equity of Oxford Genetics Limited (Oxford Genetics), the U.K. operating entity of the WuXi ATU business, to Altaris for cash consideration. Altaris is a U.S.-based private equity investment fund focused on the healthcare industry. The company management believes that this transaction will ensure uninterrupted service and timely treatment for all clients and patients in urgent need of WuXi ATU cell therapy services. Furthermore, the scientists, technical staff, and other employees of WuXi ATU's U.S. and U.K. operations can continue to work towards the mission of "making medicines accessible and curing difficult diseases." This transaction aligns with the company's core principles of putting clients and patients first and will not have a significant impact on the company's performance and operations. The company will continue to follow its strategic goals of "following clients" and "following molecules," and work towards the grand vision of "making medicines accessible and curing difficult diseases." Advanced Therapies and Oxford Genetics are the operating entities of the company's high-end therapeutic CTDMO business (WuXi ATU business) in the U.S. and U.K. In the period from January to November 2024, the combined revenue of Advanced Therapies and Oxford Genetics was approximately 980 million RMB (unaudited), accounting for 2.4% of the company's audited revenue in the most recent fiscal year. The completion of this transaction is subject to the terms of the Stock Purchase Agreement and is expected to be finalized in the first half of 2025. The company will release progress updates accordingly after the completion of the transaction.