WuXi PharmaTech Raises $80 Million for Manufacturing Subsidiary

WuXi PharmaTech, a China-US CRO/CMO, announced its SynTheAll Pharma subsidiary, a small-molecule manufacturing company will raise $80 million through a private placement of 6% of its shares. The financing values SynTheAll at $1.3 billion. In April 2015, WuXi completed a listing of the subsidiary on China's Third Board, a two-year old electronic OTC exchange. WuXi, which pointed out that STA does not include WuXi's biologic drug manufacturing operations, continues to hold an 89% stake in STA, worth about $1.16 billion. More details.... Stock Symbol: (NYSE: WX) Share this with colleagues: // //