The biopharmaceutical company has launched a $50m technology and life sciences corporate venturing unit, according to its latest financial results.
China-based biopharmaceutical corporation WuXi PharmaTech has formed a $50m corporate venturing unit, according to its third quarter financial results, released last Thursday. The fund will invest in technology and life sciences companies which will enhance WuXi’s technology platform.
Dr. Ge Li, chief executive officer of Wuxi, said: "Through the fund’s investments, WuXi expects to benefit from appreciation in value of the companies invested in, and from access to these technologies and collaborations, including new revenue-generating opportunities."
WuXi acquired US-based…
