Transcenta Sells Hangzhou CDMO Plant to WuXi Biologics for RMB 190 Million, Then Licenses HiCB Platform Back to the Buyer
核心洞察
Transcenta (搜索) agreed to sell its Hangzhou GMP manufacturing assets to WuXi Biologics for RMB 190.0 million, a modest discount to an independent appraisal of RMB 198.8 million.
Intellectual property including the HiCB continuous bioprocessing platform and ExcelPro cell culture media was excluded from the disposal and retained by Transcenta (搜索).
One month later, Transcenta (搜索) licensed HiCB and ExcelPro non-exclusively to WuXi Biologics for RMB 10 million upfront plus milestones, making WuXi its strategic CMC partner.
Transcenta (搜索) Holding Limited (HKEX: 6628) has agreed to sell its Hangzhou contract development and manufacturing organization (CDMO) assets to WuXi Biologics (Cayman) Inc. (HKEX: 2269) for RMB 190.0 million (approximately USD 26.2 million), exiting physical manufacturing to concentrate resources on its drug pipeline and proprietary bioprocessing technology licensing. The asset purchase agreement was signed August 6, 2026 between Transcenta's wholly-owned subsidiary HJB (Hangzhou) Co., Ltd. and WuXi Biologics (Hangzhou) Co., Ltd.
The deal covers the GMP manufacturing plant at Qiantang New District, Hangzhou, including land use rights, building ownership, all facilities and equipment, associated business contracts, and designated employees. Intellectual property — including Transcenta (搜索)'s Highly Intensified Continuous Bioprocessing (HiCB) platform and ExcelPro CHO cell culture media — is explicitly excluded from the disposal.
The RMB 190.0 million consideration was set at a modest discount to an independent appraised value of RMB 198.8 million as of May 31, 2026, reflecting estimated equipment depreciation between the valuation date and expected completion. Payment is structured in four tranches: 50% upon shareholder approval, 15% at Phase I completion, 20% at Phase II completion, and a final 15% within six months of Phase II completion, with adjustment mechanisms tied to asset condition and regulatory filing status. The transaction requires Transcenta (搜索) shareholder approval at an extraordinary general meeting, with a circular expected on or before August 25, 2026, and a longstop date of December 31, 2026.
Financial Rationale and Cost Restructuring
Transcenta (搜索) said the disposal will provide near-term cash inflow without equity dilution and is expected to materially improve the group's going-concern position for fiscal 2026. As of December 31, 2025, more than half of Transcenta's employees were employed in connection with the CDMO assets. The company reported a 28% reduction in labor expenses and a 24% reduction in operating expenses on a cash basis for the six months ended June 30, 2026 versus the prior-year period.
A July 2026 update disclosed that Transcenta (搜索) had been actively evaluating options to optimize its manufacturing cost structure while retaining drug-program intellectual property. The company said it will retain partial in-house chemistry, manufacturing, and controls (CMC) capabilities to support continued pipeline development, and will engage third-party CDMOs for additional manufacturing needs.
HiCB Platform Retained and Licensed to the Buyer
Transcenta (搜索) retains full rights to the HiCB continuous bioprocessing platform, which it has been licensing on a non-exclusive, royalty-bearing basis. In May 2026, Transcenta reported receipt of a RMB 7 million milestone payment from its HiCB collaboration with Taiwan-based EirGenix (搜索) Inc. (TWSE: 6589), with the technology being implemented for GMP production at EirGenix's facility.
On September 9, 2026, Transcenta (搜索) Therapeutics and its subsidiary HJB announced a technology licensing and strategic collaboration agreement with WuXi Biologics. Under the agreement, Transcenta grants WuXi Biologics and its affiliates a non-exclusive license to certain technologies relating to the HiCB platform and ExcelPro cell culture media. Transcenta will receive an upfront payment of RMB 10 million and will be eligible for milestone payments upon the achievement of specified conditions. Through this collaboration, WuXi Biologics becomes Transcenta's strategic partner for CMC development and supporting molecules across Transcenta's development pipeline.
According to the company, the HiCB platform integrates intensified continuous perfusion upstream processing with hybrid continuous downstream purification, enabling a step-change in productivity — achieving significant increase in productivity compared with conventional fed-batch processes — while maintaining superior product quality through shorter residence time and optimized culture conditions. HiCB can significantly reduce cost of goods, lower capital investment, and enable agile and just-in-time production. It also provides a solution for improving recovering yield and product quality for complex biologics.
Transcenta (搜索) described the collaboration as part of its continued efforts to advance partnerships for the HiCB technology platform and broaden its application to address CMC challenges for complex biologic molecules, offering a flexible approach to rapidly expand production capacity. The company plans to further unlock the commercial value of the HiCB platform through external licensing and industry partnerships.
Pipeline Focus: Osemitamab Toward Global Phase III
Transcenta (搜索) said proceeds from the CDMO asset disposal will be directed toward pipeline development, including advancing lead asset osemitamab (TST001), an anti-Claudin18.2 (搜索) antibody, toward a global Phase III trial in gastric and gastroesophageal junction cancer (搜索).
Transcenta (搜索) is a clinical-stage biopharmaceutical company with fully integrated capabilities in biologics discovery, translational research, clinical and process development. Headquartered in Suzhou, it has established a global presence with R&D centers and clinical development centers across China and internationally, and is developing a diversified pipeline of over ten therapeutic antibody candidates spanning oncology, bone and kidney disorders.
WuXi Biologics (stock code: 2269.HK) is a global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions enabling partners to discover, develop and manufacture biologics from concept to commercialization. With over 13,000 employees in China, the United States, Ireland, Germany, and Singapore, the company reported that as of April 30, 2026 it is supporting 982 integrated client projects, including 78 in Phase III and 25 in commercial manufacturing, with complex modalities representing more than half of the entire project portfolio.