GenScript Biotech

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GenScript Biotech Corporation
Company typePublic
SEHK: 1548
IndustryLife sciences
Founded2002 in New Jersey[1]
FoundersFangliang Zhang, Ye Wang, Luquan Wang
HeadquartersPiscataway, NJ[2]
Area served
Worldwide
Number of employees
6213 (2022)
Websitewww.genscript.com

GenScript Biotech, fully known as GenScript Biotech Corporation, usually referred to as simply GenScript, is a New Jersey-based biotech company.[3][4][5] It was co-founded in 2002 in New Jersey by Fangliang Zhang, Ye Wang, and Luquan Wang.[6] The company mainly provides life science research application instruments and services.[7] It was listed on the Hong Kong Stock Exchange in 2015.[8] The current rotating CEO of the firm is Shao Weihui,[9] and its main subsidiaries include Legend Biotech,[10] Probio Technology,[11] and Bestzyme.[12]

Outside of the United States, GenScript has established presences in China, Singapore, Japan, the United Kingdom, and the Netherlands, among others.[13] The company's operations are divided into four main segments, CDMO platform, life-science services and products platform, integrated cell therapy platform, and industrial synthetic products platform.[13] In September 2021, the firm and its subsidiary Probio received series A funding from Hillhouse Capital.[14]

History[edit]

GenScript was formed in 2002 in New Jersey. In 2004, it set up a research and production base in Nanjing, China.[15] In 2009, the company secured a $15 million investment from KPCB China Fund.[16]

In 2011, the company opened a subsidiary in Japan. In 2013, it established Bestzyme.[15] In the following year, another subsidiary of the firm, Legend Biotech, was founded.[17] In 2015, GenScript went public on the SEHK.

In 2017, the Chinese government accepted Nanjing Legend's application for running clinical trials for its blood cancer treatment,[18] with its IND application approved by the CFDA.[19] In the same year, Legend Biotech USA Inc. and Legend Biotech Ireland Limited, non-wholly owned subsidiaries of GenScript,[20] entered into a collaboration agreement with Janssen Biotech[21] to share CAR-T treatments in the US and China.[22] Subsequently, GenScript fully acquired CustomArray.[23]

In 2020, its subsidiary Probio was launched.[24] In the same year, Genscript collaborated with Duke-NUS Medical School to develop and manufacture a serology test called cPass for the detection of COVID-19.[25] On November 6, the cPass test received emergency use authorization from the US FDA.[26][27] Prior to that, Legend Biotech was listed on the NASDAQ under the symbol "LEGN".[28]

In 2022, Carvykti, a CAR-T cell therapy developed by Janssen Biotech and Legend Biotech,[24] was approved by the US FDA for the treatment of multiple myeloma in adult patients.[29] In the same year, it opened a protein and gene manufacturing facility in Singapore.[30]

In November 2023, Legend Biotech and Novartis signed an out-license deal to develop and manufacture Legend’s chimeric antigen receptor (CAR-T) therapies, that go after delta-like ligand protein 3 (DLL3) including large cell neuroendocrine carcinoma candidate LB2102. Novartis will pay the New-Jersey-based biotech $100 million upfront, and Legend Biotech will be eligible to receive up to $1.01 billion in clinical, regulatory, and commercial milestone payments and tiered royalties. [31]

References[edit]

  1. ^ Venus Feng and Yoojung Lee (May 31, 2018). "Road to Chinese Pharma Riches Runs Through the Bronx, New Jersey". Bloomberg News. Archived from the original on May 16, 2023.
  2. ^ Dawn Furnas (May 26, 2022). "GenScript, fellow NJ biotech partner on COVID-19 antibody test distribution". NJBIZ. Archived from the original on May 16, 2023.
  3. ^ Rick Mitchell (January 23, 2023). "Paul Hastings Advises GenScript, Probio on $224 Million Funding". Bloomberg Law. Archived from the original on May 16, 2023.
  4. ^ Tim Gray (July 13, 2018). "The New Revolution Brought About by Gene Synthesis". The New York Times. Archived from the original on May 16, 2023.
  5. ^ Kate Knibbs. "The Promise of Antibody Treatments for Covid-19". Wired. May 22, 2020. Archived from the original on May 16, 2023. Wired.com.
  6. ^ Weijing Zhou. "KPCB invests $15 mln in Jinsite". 21st Century Business Herald. June 20, 2009. Archived from the original on May 17, 2023.
  7. ^ Yuexiang Zhou (May 10, 2023). "Singapore Strives to Become Asia's Biomedical Hub". Lianhe Zaobao. Archived from the original on May 17, 2023.
  8. ^ Eric Ng (December 22, 2017). "Genscript's shares jump by a third on US$350m Johnson & Johnson unit tie-up". South China Morning Post. Archived from the original on May 16, 2023.
  9. ^ "Genscript Biotech Corporation Announces Chief Executive Officer Changes". MarketScreener. December 18, 2022. Archived from the original on June 20, 2023.
  10. ^ Russell Flannery (Forbes Staff) (June 7, 2020). "Johnson & Johnson Partner's Stock Soars As Investors Embrace China Health, Tech". Forbes. Archived from the original on June 18, 2023.
  11. ^ Rick Mitchell (April 24, 2023). "Wake Up Call: Kirkland, Cole Schotz Advising Bed Bath & Beyond". Bloomberg Law. Archived from the original on June 17, 2023.
  12. ^ Stephanie Li (May 31, 2023). "China Digest: Lynk Pharma, Bestzyme Bioengineering securing funding". DealStreetAsia. Archived from the original on June 18, 2023.
  13. ^ a b "GenScript Launches A Protein Manufacturing Facility In Singapore". Lianhe Zaobao. Economic Development Board. January 10, 2023. Archived from the original on June 17, 2023.
  14. ^ "GenScript and Probio Close Series A Financing with Investment from Hillhouse". Paul Hastings. September 6, 2021. Archived from the original on June 10, 2023.
  15. ^ a b "Handbook of GenScript Biotech (2022 Edition)" (PDF). www.genscript.com. May 24, 2022. Archived (PDF) from the original on December 6, 2022.
  16. ^ Jonathan Shieber (July 17, 2009). "Kleiner Perkins' Former Front Man In China Starts Fresh". The Wall Street Journal. Archived from the original on June 17, 2023.
  17. ^ Preetika Rana (August 5, 2018). "How China Is Evolving From a Maker of Copycat Medicines Into a Producer of Complex Drugs". The Wall Street Journal. Archived from the original on May 16, 2023.
  18. ^ Wei, Jianshu; Guo, Yelei; Wang, Yao; Wu, Zhiqiang; Bo, Jian; Zhang, Bin; Zhu, Jun; Han, Weidong (April 2021). "Clinical development of CAR T cell therapy in China: 2020 update". Cellular & Molecular Immunology. 18 (4): 792–804. doi:10.1038/s41423-020-00555-x. PMC 8115146. PMID 32999455.
  19. ^ Wei, Jianshu; Guo, Yelei; Wang, Yao; Wu, Zhiqiang; Bo, Jian; Zhang, Bin; Zhu, Jun; Han, Weidong (April 2021). "Clinical development of CAR T cell therapy in China: 2020 update". Cellular & Molecular Immunology. 18 (4): 792–804. doi:10.1038/s41423-020-00555-x. PMC 8115146. PMID 32999455.
  20. ^ "GenScript Biotech Releases Announcement of its Latest Research and Development". MarketScreener. August 5, 2020.
  21. ^ Arpita Dutt (December 22, 2017). "Pharma Stock Roundup: Aerie's Rhopressa Approved, Label Expansion for BMY, Pfizer Drugs". Yahoo! Finance. Archived from the original on August 29, 2023.
  22. ^ Will Ballard (October 10, 2019). "Chinese biotech: from copycat to innovator". Financial Times. ISSN 0307-1766. Archived from the original on August 29, 2023.
  23. ^ Vince Iral (December 27, 2017). "Genscript Biotech to acquire US genomic sequencing company". S&P Global. Archived from the original on May 17, 2023.
  24. ^ a b Dede Williams (January 25, 2023). "GenScript Raises $224 Million in Fresh Capital". CHEManager. Archived from the original on June 10, 2023.
  25. ^ Lovelyn Tagalag (May 15, 2020). "GenScript to collaborate with Singapore agency on COVID-19 test". S&P Global. Archived from the original on May 16, 2023.
  26. ^ "Coronavirus (COVID-19) Update: FDA Authorizes First Test that Detects Neutralizing Antibodies from Recent or Prior SARS-CoV-2 Infection". www.fda.gov. Food and Drug Administration. November 6, 2020. Archived from the original on November 6, 2020.
  27. ^ Tan, Chee-Wah; Chia, Wan-Ni; Young, Barnaby E.; Zhu, Feng; Lim, Beng-Lee; Sia, Wan-Rong; Thein, Tun-Linn; Chen, Mark I.-C.; Leo, Yee-Sin; Lye, David C.; Wang, Lin-Fa (7 October 2021). "Pan-Sarbecovirus Neutralizing Antibodies in BNT162b2-Immunized SARS-CoV-1 Survivors". New England Journal of Medicine. 385 (15): 1401–1406. doi:10.1056/NEJMoa2108453. PMC 8422514. PMID 34407341.
  28. ^ Lucinda Shen (June 5, 2020). "ZoomInfo raises nearly $1 billion in its IPO". Fortune. Archived from the original on May 17, 2023.
  29. ^ Peter Loftus (February 28, 2022). "FDA Approves Cell-Based Multiple Myeloma Therapy Discovered in China". The Wall Street Journal. Archived from the original on May 16, 2023.
  30. ^ Timothy Goh (February 10, 2022). "GenScript's manufacturing facility boosts S'pore's role in fight against pandemic". The Straits Times. Archived from the original on June 18, 2023.
  31. ^ Ojha, Shreeyashi (2023-11-15). "Legend & Novartis sign $100m agreement - BioProcess Insider". BioProcess International. Retrieved 2023-11-30.
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