WuXi XDC has announced a cash offer to acquire Chinese compatriot TOT Biopharm, a move aimed at expanding its manufacturing capacity and solidifying its position as a leading CDMO in the antibody-drug conjugate (ADC) and broader bioconjugate sector. The announcement coincides with WuXi XDC's 2025 preliminary financial results, which forecast revenue growth exceeding 45% and adjusted net profit growth over 45% year-on-year. The acquisition is a strategic response to the growing capacity constraints in the industry as more bioconjugate drugs advance towards commercialisation.

The deal allows WuXi XDC to rapidly integrate established production facilities and operational expertise, bypassing the lengthy timeline required for new facility construction. With over 630 global clients and a robust project pipeline, the company is building a global manufacturing network spanning sites in Wuxi, Jiangyin, Hefei and Singapore. This expansion is underpinned by a strong financial position, including a recent USD 350 million refinancing, enabling the company to capitalise on the high-growth ADC outsourcing market, which is projected to reach USD 11 billion by 2030.

PharmCube's NextBiopharm® database shows that this is Wuxi XDC's first M&A transaction, valued at USD 397 million. Click here to request a free trial for NextBiopharm®.