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WuXi XDC Raises $520 Million in IPO; Climbs 39% in First Trading Session

publication date: Nov 17, 2023

WuXi XDC, an ADC/bioconjugate CRDMO, staged a very successful US$520 million IPO in Hong Kong, rising 39% in its first trading session, challenging the notion that the IPO market is hopelessly closed to China biopharmas. It didn’t hurt the IPO that ADCs/bioconjugates are the current center of interest for novel biopharma development globally. Now 10 years old, WuXi XDC started off its life as part of WuXi Biologics, a CRDMO for biologic drug development, which was in turn started by WuXi AppTec, a CRO that made China drug development globally respectable. WuXi XDC has a market capitalization of US$4.2 billion. More details....

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