WuXi Biologics to Acquire Transcenta's Hangzhou Site for RMB 190M, Expanding DS & DP Capacity

The 10,000+ sqm site offers process development, drug substance and drug product capabilities, with the deal expected to close in Q3 2026 — the latest move in WuXi's counter-cyclical capacity buying at domestic asset-price lows.

On August 7, 2026, WuXi Biologics (2269.HK) announced an agreement with Transcenta Therapeutics to acquire its Hangzhou process development, drug substance and drug product manufacturing site, further strengthening integrated service capability to meet rapidly growing client demand. The transaction is expected to close in Q3 2026.

According to Transcenta's concurrent announcement, the deal transfers the entire Hangzhou Just Biotherapeutics CDMO asset package for ~RMB 190M, paid in four installments tied to closing milestones. The book value of the assets is ~RMB 457M (including RMB 202M of goodwill); the transaction covers hardware, contracts and designated employees only — excluding the HiCB continuous processing and ExcelPro CHO IP. For WuXi Biologics, it is effectively a ready-made GMP plant at roughly a quarter of book value.

The site spans more than 10,000 square meters with process development, drug substance and drug product capabilities. CEO Dr. Chris Chen said: "This acquisition further enhances our end-to-end capability covering drug substance development and manufacturing and drug product. As project volume and commercial demand keep growing, we will continue responding to clients' diversified needs with high quality and efficiency."

Industry observers note this is the latest in WuXi's 2026 M&A sequence: in January, WuXi XDC completed a ~HK$3.09B tender offer for over 60% of TOT Biopharma, securing 20,000+ L of integrated ADC commercial capacity at its Suzhou base. With domestic biotech funding cold and asset prices low, WuXi entities are using "M&A + guaranteed orders" to keep expanding their manufacturing networks.