Wuxi Biologics (cayman) Inc. · HKEX:2269
Wuxi Biologics (cayman) — 43rd Annual J.P. Morgan Healthcare Conference (January 2025)
38 slides from Wuxi Biologics (cayman)'s conference presentation, Jan 13, 2025
Slide 1: Inside Information — Presentation at 2025 Annual Healthcare Conference
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia
Slide 2: Business and financial position highlights; board announcement
As disclosed in the Presentation, the Group’s business and financial positions have remained strong with 151 newly added projects resulting in a total of 817 projects (including 66 phase III and 21 non-COVID CMO (commercial manufacturing) projects) in 2024. In addition, the Group enabled 7 global pr
Slide 3: Poised for Accelerated Growth
Poised for Accelerated Growth Chris Chen, PhD 43rd Annual J.P. Morgan Healthcare Conference January 15, 2025 Stock Code: 2269.HK
Slide 4: Forward-Looking Statements; Use of Adjusted Financial Measures
Forward-Looking Statements This presentation may contain certain “forward-looking statements” which are not historical facts, but instead are predictions about future events based on our beliefs as well as assumptions made by and information currently available to our management. Although we believe
Slide 5: Contents
CONTENTS A CRDMO Model 01 For Global Success 02 Research Services 03 Business Update 04 ESG FY25 Poised for 05 Accelerated Growth 3
Slide 6: A CRDMO Model for Global Success
A CRDMO Model for Global Success: Delivering Value Across the Molecule 01 Lifecycle
Slide 7: Enabling & Expediting Innovations to Meet Client Needs
Enabling & Expediting Innovations to Meet Client Needs We offer end-to-end CRDMO services also available a la carte: C Contract R Target Selection D M O Cell Line Engineering DS GMP Manufacturing One partner Services Reagent Generation & Assay Development Assay Development DP GMP Manufac
Slide 8: Global End-to-End Capabilities to Deliver Integrated R, D & M Services
Global End-to-End Capabilities to Deliver Integrated R, D & M Services Global CRDMO: 4 R centers 7 D centers 9 M centers R: Shanghai WGQ, Shanghai FX, Chengdu, Boston D: Shanghai WGQ, Wuxi, Shanghai FX, Hangzhou, Suzhou, Cranbury NJ and Singapore M: Wuxi, Hebei, Chengdu, Hangzhou, Wuppertal, Leverku
Slide 9: Single-Use Technology Scaled Out to Large Batch Sizes
Single-Use Technology Scaled Out to Large Batch Sizes Comparable to Stainless Steel Tanks Number of Successful Scale Out Batches (by scale) 16,000L, 5, 2% 120 Number of Successful Scale Out Batches (by year) 4,000L, 6, 2% Scale out batches 100 6,000L, 82, 27% 80 77 77 66 60 8,000L, 12, 4% 41 12,000L
Slide 10: CRDMO Business Model Demonstrates Proven Success Since IPO
CRDMO Business Model Demonstrates Proven Success Since IPO 2016 (pre-IPO) 2019 1H24 Multiple-Platform Discovery Engines Multiple-Platform Discovery Engines Multiple-Platform Discovery Engines 58 13 Terminated 52 6 Terminated 66 Preclinical 121 Preclinical 359 Preclinical 0 21 1 3 26 1 33 Phase I 85
Slide 11: Strong Validation of Follow the Molecule Business Model
Strong Validation of “Follow the Molecule” Business Model: Significant Revenue Growth (2012 – 2025E) for a Rare Disease Therapy FDA/EMA BLA approval PPQ completed 250 in Ireland FDA IND approval Revenue USD $M Tech transfer to Ireland 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E 20
Slide 12: Strong Validation of Win-the-Molecule Business Model
Strong Validation of “Win-the-Molecule” Business Model: Tech Transferred to WuXi Bio for Process Optimization & Manufacturing Gen 1 Tech Transfer 800 Gen 2 Tech Transfer, Process Process Optimization Optimization Gen 2 FDA PLI & Approval Gen 2 PPQs Revenue RMB M 400 0 2015 2016 2017 2018 2019 2020 2
Slide 13: Biopharma Licensing Collaborations: Win-Win as New Asset Owners
Biopharma Licensing Collaborations: Win-Win as New Asset Owners Expand Service Utilization & Award More Contracts • WuXi Bio commands a 70% market share Total Contracts Signed Post Biopharma Licensing Collaboration1 among bio-partnering programs utilizing 1,895 CDMOs in 20242 • Total contracts signe
Slide 14: Research Services
Research Services: Drive Innovation Through Partnerships & 02 Unlock Revenue & Profit Upside
Slide 15: WuXiBody: Industry-Leading Proprietary Multi-Specific Platform
WuXiBodyTM : Industry-Leading Proprietary Multi-Specific Platform TARGET BIOLOGY AB ENGINEERING DEVELOPMENT Flexibility: 1+1, 1+2 or 2+2 Universality: Compatible High titer: 2-35 g/L binding sites; compatible to to most mAb pairs Typically high yield: >50% different Fc/Fc variants Typically high sol
Slide 16: Leading Immune Cell Engager (ICE) Technologies: Beyond TCEs
Leading Immune Cell Engager (ICE) Technologies: Beyond TCEs 14
Slide 17: CN201 Positioned to Become a Best-In-Class CD3xCD19 Therapy
CN201 Leveraging WuXi CD3/WuXiBodyTM /WuXiUPTM: Positioned to Become a Best-In-Class CD3xCD19 Therapy By combining WuXi Bio’s unique low-affinity anti-CD3 mAb, which binds & dissociates rapidly, with its industry Our client’s molecule leading WuXiBodyTM bsAb platform, the resulting TCE was acquire
Slide 18: Collaborating with Partners, WuXi Bio Fuels Clients' Success in Next-Gen ADCs
Collaborating with Partners, WuXi Bio Fuels Clients’ Success in Next-Gen ADCs Recognized Expertise in Supporting Next-gen ADCs Collaborations to Date • Our partners are ADC experts with 20+ years in • WuXi Biologics and Hangzhou DAC Signed Research ADC technologies development Service Agreement with
Slide 19: Facilitating External Innovation: A Critical Source for Clients' Innovation Pipeline
Facilitating External Innovation: A Critical Source for Clients’ Innovation Pipeline 2/3 – 4/5 of Drugs 3-10% Approved by FDA are Developed Royalties through External Innovation 50+ US$ M Revenue 10+ US$ M 5+ US$ M Up to 40 Potential total value for global rights US$ M could be US$300M+ Upfront Pre-
Slide 20: Business Update
Business Update 03
Slide 21: Research Services: Reaching an Inflection Point
Research Services: Reaching an Inflection Point Following Years of Strategic Cultivation • Enabled 7 global programs for molecules discovery through our Research platform in 2024 o Eligible to receive ~US$140M in near-term payments & total potential payments US$2.3B • To date, enabled 50+ programs e
Slide 22: Accelerating IND Timelines: 9-Month Packages
Accelerating IND Timelines: 9-month Packages with GMP Materials Produced in North America 9-Month from DNA to IND Accelerated Timeline for mAb (GMP DS & DP mfg. in Cranbury, NJ) Leveraging deep PD expertise from China team MCB and GMP DS/DP all stored in US for future One-stop service within t
Slide 23: WuXi Bio Expanded iCMC Client Base in 2024 vs 2023
WuXi Bio Expanded iCMC Client Base in 2024 vs 2023 iCMC1 Project Source Geographic Distribution of New Clients 62 45 31 51 81 80 (39%) 71 (61%) (53%) 25 (47%) 11 5 17 13 2 3 132 iCMCs in 2023 151 iCMCs in 2024 2023FY 2024FY New Client Existing Client ROW CN EU US Note 1: iCMC = from DNA to IND 21
Slide 24: New Projects Added in 2024 Reflecting Recovery of Global Biotech
151 New Projects Added in 2024 Reflecting Recovery of Global Biotech & Robust Business Trend • Leveraging its robust R&D capabilities and ADC Platform WuXiBodyTM OMT Platform SDArBodYTM strong execution, the Company continued to enable customers while advancing our “Follow and Win the Molecule” stra
Slide 25: Strong COVID Execution Fuels Surge in New Project Additions Since 2020
Strong COVID Execution Fuels Surge in New Project Additions Since 2020 No. of Newly Added Integrated Projects by Year 151 138 136 132 103 58 57 59 2017 2018 2019 2020 2021 2022 2023 2024 No. of “Win-the-Molecule” Projects by year Phase III &CMO Total 20 18 18 13 10 11 11 9 6 7 5 1 1 1 2018 2019 2020
Slide 26: Proven & Reliable Quality: A Key Driver of 100% BLA Success
Proven & Reliable Quality: A Key Driver of 100% BLA Success for Clients Meeting or Exceeding Global Regulatory Standards 22 total inspections from EMA and FDA Regulatory Inspections & License Approvals 100% successfully passed PAI 6 on-site inspections from both EMA and FDA since 2023 1Q’24: 13 su
Slide 27: Scheduled PPQs Underpin Future CMO Growth
Scheduled PPQs Underpin Future CMO Growth # PPQs (cumulative) • 16 PPQs completed in 2024, 24 scheduled for 2025E. 31% • PPQs scheduled for 2025E & 2026E are based on current contracts, providing visibility. 116 101 • PPQ success of 98%+: among 77 the industry’s top 61 42 performers, showcasing 12 2
Slide 28: Significant Growth of Commercial Projects in the Medium-Term
Significant Growth of Commercial Projects in the Medium-Term Multiple blockbuster drugs in autoimmune, ADC, and bi-specifics Eight manufacturing projects Ten manufacturing projects that Eight manufacturing projects that could potentially generate could potentially generate that could potentially gen
Slide 29: Global Site Updates
Global Site Updates MFG11: Building the future of biologics manufacturing • All three manufacturing facilities (MFG6.1, MFG6.2, and MFG7) received GMP approval from the Irish • Largest facility with single-use technology in the U.S. Health Products Regulatory Authority (HPRA) o Upstream 6 x 6K L tan
Slide 30: Strategic Transfer of Ireland Vaccine Facility to Merck & Co
Strategic Transfer of Ireland Vaccine Facility to Merck & Co: Enhance Op. Flexibility, Optimize Asset Efficiency & Unlock Shareholder Value Transaction Rationale • Merck & Co will acquire WuXi Vaccines’ • The deal will enable Merck to better integrate the vaccine facility in Dundalk, Ireland at a to
Slide 31: ESG: an Important Component of Business Strategy
ESG: an Important Component of Business Strategy 04
Slide 32: Innovative Green CRDMO End-to-End Solutions for Sustainable Success
Innovative Green CRDMO End-to-End Solutions for Sustainable Success Green Research (R) Green Development (D) Green Manufacturing (M) Single-Use Technology (SUT) Scale-Out Biomanufacturing Continuous Manufacturing Process Lean Manufacturing by WBS WuXiBody™ Proprietary Universal WuXiUI™ Ultra-Intensi
Slide 33: WuXiUI Platform: Reducing Environmental Impact Through Innovation
WuXiUITM Platform: Reducing Environmental Impact Through Innovation Up to 60% Up to 80% SUT Reductions of Environmental Impacts Reductions of Product Carbon Footprint Climate Change Impact Ozone Depletion Impact Project Technology Year tCO2e /g protein Acidification Impact Photochemical Ozone… Proje
Slide 34: Trustworthy Partner with a Strong Sustainability Commitment
Trustworthy Partner with a Strong Sustainability Commitment DJSI World Indices MSCI ESG Ratings AAA EcoVadis Platinum Medal S&P Global ESG Indices MSCI ESG Leaders Indexes Global 1% Sustainalytics Leadership Awards FTSE4Good Emerging Index Industry & Regional Top Rated Water A / Climate Change A- In
Slide 35: Summary & Outlook
Summary & Outlook 05
Slide 36: CRDMO Business Model is the Most Efficient in Our Industry
We Firmly Believe that the CRDMO Business Model is the Most Efficient in Our Industry Our Three Long-Term Growth Curves transforms innovative biotech concepts R from across the globe into reality R+D+M D accelerates project progress through our D+M execution excellence & swift delivery D M provides
Slide 37: FY25 Poised for Accelerated Growth, Building on a Solid FY24
FY25 Poised for Accelerated Growth, Building on a Solid FY24 2024: Post-Covid Normalization & Transition 2024: solid performance & FY24 • Transition from pandemic-driven demand reduced short-term growth rate guidance reiterated • Biotech funding constraints in prior years contributed to a more mea
Slide 38: WuXi Bio Vision
WuXi Bio Vision “Every drug can be made and every disease can be treated” by building an open-access platform with the most comprehensive capabilities and technologies in the global biologics industry 36 36
WuXi Biologics (Cayman) — 43rd Annual J.P. Morgan Healthcare Conference (January 2025) on 6ix