On August 21, 2024, Fortune announced its inaugural “2024 Fortune China Technology 50” list. Recognizing WuXi XDC (Stock Code: 2268.HK), a global leader in end-to-end CRDMO services focused on Antibody-Drug Conjugates (ADCs) and other bioconjugates, for its exceptional innovation capabilities and global impact. This recognition underscores the company’s comprehensive, bioconjugate drug development services, its world-class integrated technology platform, and its strong potential for future growth.
The list features 50 companies spanning various sectors such as advanced manufacturing, life sciences, artificial intelligence, and the digital economy. Other prominent companies featured in the ranking include Huawei, Hengrui Pharmaceuticals, BYD, Alibaba, Tencent, Xiaomi, and Baidu, among others.
This recognition by Fortune underscores WuXi XDC’s commitment to innovation and excellence in the biopharmaceutical industry. According to Fortune,” The company has consistently pushed the boundaries of what’s possible in the development and manufacturing of bioconjugates, offering clients a comprehensive suite of services that accelerate the journey from concept to commercialization. “
The “2024 Fortune China Technology 50” list aims to spotlight technology companies that are “Born in China, Impacting the World.” As highlighted by Fortune, “The success of these outstanding companies lies not just in their specific products and services, but in the spirit of innovation and global vision they represent.”
“WuXi XDC is among the very few global companies dedicated to providing end-to-end services for bioconjugate drugs, such as ADCs. These bioconjugate drugs hold immense potential in treating cancers, autoimmune diseases, and other complex conditions. Compared to conventional drugs, the development and production of ADCs are significantly more challenging.”
“WuXi XDC’s success hinges on its integrated, end-to-end technology platform and high-quality services to global clients,” said Dr. Jimmy Li, CEO of WuXi XDC. “This award not only acknowledges our company’s end-to-end service capabilities in the CRDMO field but also serves as a testament to our commitment to clients worldwide. We are dedicated to empowering our clients to meet diverse R&D needs through cutting-edge conjugation and payload-linker technologies, as well as our deep expertise in process development. Moving forward, WuXi XDC will continue to build on the global industry’s diverse and transformative needs, strengthening our one-stop bioconjugate technology service platform. We aim to empower clients in drug development, accelerate industry innovation, and ultimately benefit patients worldwide.”
According to WuXi XDC’s 2024 mid-year financial report, the company achieved remarkable results, with revenue growing by 67.6% year-over-year to RMB 1.665 billion, reflecting robust business growth. As of June 30, 2024, WuXi XDC has served 419 clients, supported 71 IND submissions, and completed 538 early-stage research projects, along with the early development of 11,000 molecules. The company is currently managing 167 integrated projects, with 29 late-stage (Phase II and III) projects, including 9 PPQ projects that have the potential to submit BLAs in 2024 and beyond, which could lead to the approval of more ADC products.
For two consecutive years, WuXi XDC has been recognized at the “World ADC Awards,” the most influential event in the global ADC field, winning the “Best CDMO Champion” award in 2023. WuXi XDC’s ongoing development showcases the company’s leading global capabilities and scale in the early development, clinical research, and commercial production of ADCs and other bioconjugates.
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