China’s WuXi AppTec subsidiaries have entered into an agreement with US-based private equity firm Altaris to sell its cell and gene therapy manufacturing unit, WuXi Advanced Therapies, for an undisclosed amount, according to a report by Reuters.
In addition to the sale of WuXi Advanced Therapies, WuXi also announced it would sell Oxford Genetics, its UK-based subsidiary under WuXi ATU, to Altaris.
WuXi and other Chinese companies have been at the centre of recent US legislative efforts aimed at restricting their operations in the US over national security concerns. In September, the US House of Representatives passed a bill that would block federal contracts with certain companies, as well as those that conduct business with them.
These bills are designed to safeguard Americans’ personal health and genetic data from foreign adversaries while encouraging US pharmaceutical and biotech firms to reduce their reliance on China for drug ingredient production and early-stage research.
