Tuesday, November 4, 2014

China pharma giant on the hunt for Israeli investments

WuXi PharmaTech’s new office will seek to work with – and maybe acquire – promising Israeli life sciences companies 

By David Shamah

The Times of Israel - November 2, 2014

hinese pharmaceutical giant WuXi PharmaTech is making a move to Israel. The company is opening an office here to “promote WuXi’s broad platform of integrated R&D services to local customers,” the company said. It will be on the lookout for promising investments in the biotech and medical devices spheres, in cooperation with its new partner Pontifax, a venture capital firm that specializes in medical industry investments.
WuXi is one of the world’s largest medical research companies, with nearly 2,000 customers using its platform to develop and test new medicines. The company’s origins are in China, where it was established in 2000, and it now has extensive operations in the US, after it acquired Minnesota-based AppTec labs in 2008. The company’s services for the biopharmaceutical and medical device industries include testing, contract research and development, as well as pharmaceutical manufacturing services.