GenScript Biotech
{{short description|Biotechnology group}}
{{COI|date=May 2022}}
{{Infobox company
| name = GenScript Biotech Corporation
| logo = GenScript_Biotech_logo.svg
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| type = Public
| traded_as = {{hkex|1548}}
| industry = Life sciences
| foundation = 2002 in New Jersey{{cite web | author=Venus Feng and Yoojung Lee | title=Road to Chinese Pharma Riches Runs Through the Bronx, New Jersey | work=Bloomberg News | date=May 31, 2018 | url=https://www.bloomberg.com/news/articles/2018-05-31/road-to-chinese-drug-riches-runs-through-the-bronx-new-jersey | archive-url=https://archive.today/20230516114001/https://www.bloomberg.com/news/articles/2018-05-31/road-to-chinese-drug-riches-runs-through-the-bronx-new-jersey | archive-date=May 16, 2023 | url-status=live }}
| founders = Fangliang Zhang, Ye Wang, Luquan Wang
| location = Nanjing, China{{cite web | author=Dawn Furnas | title=GenScript, fellow NJ biotech partner on COVID-19 antibody test distribution | work=NJBIZ | date=May 26, 2022 | url=https://njbiz.com/genscript-fellow-nj-biotech-partner-on-covid-19-antibody-test-distribution/ | archive-url=https://archive.today/20230516100919/https://njbiz.com/genscript-fellow-nj-biotech-partner-on-covid-19-antibody-test-distribution/ | archive-date=May 16, 2023 | url-status=live }}
| area_served = Worldwide
| key_people = Shao Weihui, CEO
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GenScript Biotech, fully known as GenScript Biotech Corporation, usually referred to as simply GenScript, is a New Jersey–based biotech company.{{cite web |author=Rick Mitchell |date=January 23, 2023 |title=Paul Hastings Advises GenScript, Probio on $224 Million Funding |url=https://news.bloomberglaw.com/business-and-practice/paul-hastings-advises-genscript-probio-on-224-million-funding |url-status=live |archive-url=https://archive.today/20230516095707/https://news.bloomberglaw.com/business-and-practice/paul-hastings-advises-genscript-probio-on-224-million-funding |archive-date=May 16, 2023 |work=Bloomberg Law}}{{cite web |author=Tim Gray |date=July 13, 2018 |title=The New Revolution Brought About by Gene Synthesis |url=https://www.nytimes.com/2018/07/13/business/trade-wars-global-funds.html |url-status=live |archive-url=https://archive.today/20230516071011/https://www.nytimes.com/2018/07/13/business/trade-wars-global-funds.html |archive-date=May 16, 2023 |work=The New York Times}}Kate Knibbs. {{cite magazine | title=The Promise of Antibody Treatments for Covid-19 | magazine=Wired | via= | date=May 22, 2020 | url=https://www.wired.com/story/coronavirus-covid-19-antibody-treatment/ | archive-url=https://archive.today/20230516132543/https://www.wired.com/story/coronavirus-covid-19-antibody-treatment/ | archive-date=May 16, 2023 | url-status=live }} Wired.com. It was co-founded in 2002 in New Jersey by Fangliang Zhang, Ye Wang, and Luquan Wang.Weijing Zhou. {{cite web | title=KPCB invests $15 mln in Jinsite | publisher=21st Century Business Herald | date=June 20, 2009 | url=http://finance.sina.com.cn/roll/20090620/02196375537.shtml | archive-url=https://archive.today/20230517151939/http://finance.sina.com.cn/roll/20090620/02196375537.shtml | archive-date=May 17, 2023 | url-status=live }} The company mainly provides life science research application instruments and services.{{cite web | author=Yuexiang Zhou | title=Singapore Strives to Become Asia's Biomedical Hub | work=Lianhe Zaobao | date=May 10, 2023 | url=https://www.zaobao.com/finance/singapore/story20230510-1390556 | archive-url=https://archive.today/20230517093739/https://www.zaobao.com/finance/singapore/story20230510-1390556 | archive-date=May 17, 2023 | url-status=live }} It was listed on the Hong Kong Stock Exchange in 2015.{{cite web | author=Eric Ng | title=Genscript's shares jump by a third on US$350m Johnson & Johnson unit tie-up | work=South China Morning Post | date=December 22, 2017 | url=https://www.scmp.com/business/companies/article/2125467/chinese-biotech-firm-genscripts-shares-jump-third-us350m-johnson | archive-url=https://archive.today/20230516141207/https://www.scmp.com/business/companies/article/2125467/chinese-biotech-firm-genscripts-shares-jump-third-us350m-johnson | archive-date=May 16, 2023 | url-status=live }} The current rotating CEO of the firm is Shao Weihui, who also served as the chief operating officer and Chinese Communist Party Committee Secretary for the company.{{cite web | title=Genscript Biotech Corporation Announces Chief Executive Officer Changes | work=MarketScreener | date=December 18, 2022 | url=https://www.marketscreener.com/quote/stock/GENSCRIPT-BIOTECH-CORPORA-25502710/news/Genscript-Biotech-Corporation-Announces-Chief-Executive-Officer-Changes-42585866/ | archive-url=https://archive.today/20230620050228/https://www.marketscreener.com/quote/stock/GENSCRIPT-BIOTECH-CORPORA-25502710/news/Genscript-Biotech-Corporation-Announces-Chief-Executive-Officer-Changes-42585866/ | archive-date=June 20, 2023 | url-status=live }}{{Cite web |date=2022-06-30 |title=我院党委与金斯瑞集团党委举行党建共建暨校企合作签约仪式 |trans-title=The Party Committee of our college and the Party Committee of GenScript Group held a signing ceremony for joint party building and school-enterprise cooperation |url=https://life.nju.edu.cn/life100/8e/ca/c42817a560842/page.htm |url-status=dead |archive-url=https://web.archive.org/web/20220630142659/https://life.nju.edu.cn/life100/8e/ca/c42817a560842/page.htm |archive-date=June 30, 2022 |access-date=2024-06-02 |website=Nanjing University |language=zh}} The company's main subsidiaries include Legend Biotech,{{cite web | author=Russell Flannery (Forbes Staff) | title=Johnson & Johnson Partner's Stock Soars As Investors Embrace China Health, Tech | work=Forbes | date=June 7, 2020 | url=https://www.forbes.com/sites/russellflannery/2020/06/07/johnson-johnson-partners-stock-soars-as-investors-embrace-china-health-tech/ | archive-url=https://archive.today/20230618081547/https://www.forbes.com/sites/russellflannery/2020/06/07/johnson-johnson-partners-stock-soars-as-investors-embrace-china-health-tech/ | archive-date=June 18, 2023 | url-status=live }} ProBio Technology,{{cite web | author=Rick Mitchell | title=Wake Up Call: Kirkland, Cole Schotz Advising Bed Bath & Beyond | work=Bloomberg Law | date=April 24, 2023 | url=https://news.bloomberglaw.com/business-and-practice/wake-up-call-kirkland-cole-schotz-advising-bed-bath-beyond | archive-url=https://archive.today/20230617032137/https://news.bloomberglaw.com/business-and-practice/wake-up-call-kirkland-cole-schotz-advising-bed-bath-beyond | archive-date=June 17, 2023 | url-status=live }} and Bestzyme.{{cite web | title=China Digest: Lynk Pharma, Bestzyme Bioengineering securing funding | work=DealStreetAsia | date=May 31, 2023 | url=https://www.dealstreetasia.com/stories/china-digest-lynk-bestzyme-345992 | archive-url=https://web.archive.org/web/20230618114221/https://www.dealstreetasia.com/stories/china-digest-lynk-bestzyme-345992 | archive-date=June 18, 2023 | url-status=live | author=Stephanie Li }}
Outside of the United States, GenScript has established presences in China, Singapore, Japan, the United Kingdom, and the Netherlands, among others.{{cite web | title=GenScript Launches A Protein Manufacturing Facility In Singapore | work=Lianhe Zaobao | publisher=Economic Development Board | date=January 10, 2023 | url=https://www.zaobao.com/wencui/social/story20230110-1352250 | archive-url=https://archive.today/20230617092423/https://www.zaobao.com/wencui/social/story20230110-1352250 | archive-date=June 17, 2023 | url-status=live }} 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. In September 2021, the firm and its subsidiary Probio received series A funding from Hillhouse Capital.{{cite web | title=GenScript and Probio Close Series A Financing with Investment from Hillhouse | website=Paul Hastings | date=September 6, 2021 | url=https://www.paulhastings.com/news/genscript-and-probio-close-series-a-financing-with-investment-from-hillhouse | archive-url=https://archive.today/20230610142436/https://www.paulhastings.com/news/genscript-and-probio-close-series-a-financing-with-investment-from-hillhouse | archive-date=June 10, 2023 | url-status=live }}
History
GenScript was formed in 2002 in New Jersey. In 2004, it set up a research and production base in Nanjing, China.{{cite web | title=Handbook of GenScript Biotech (2022 Edition) | website=www.genscript.com | date=May 24, 2022 | url=https://www.genscript.com/gsfiles/techfiles/gene-synthesis-handbook-2019.pdf | archive-url=https://web.archive.org/web/20221206234444/https://www.genscript.com/gsfiles/techfiles/gene-synthesis-handbook-2019.pdf | archive-date=December 6, 2022 | url-status=live }} In 2009, the company secured a $15 million investment from KPCB China Fund.{{cite web | author=Jonathan Shieber | title=Kleiner Perkins' Former Front Man In China Starts Fresh | work=The Wall Street Journal | date=July 17, 2009 | url=https://www.wsj.com/articles/BL-VCDB-2450 | archive-url=https://archive.today/20230617140818/https://www.wsj.com/articles/BL-VCDB-2450 | archive-date=June 17, 2023 | url-status=live }}
In 2011, the company opened a subsidiary in Japan. In 2013, it established Bestzyme. In the following year, another subsidiary of the firm, Legend Biotech, was founded.{{cite web | author=Preetika Rana | title=How China Is Evolving From a Maker of Copycat Medicines Into a Producer of Complex Drugs | work=The Wall Street Journal | date=August 5, 2018 | url=https://www.wsj.com/articles/j-j-bets-on-chinese-startup-that-uses-llama-dna-to-fight-cancer-1533470402 | archive-url=https://archive.today/20230516103959/https://www.wsj.com/articles/j-j-bets-on-chinese-startup-that-uses-llama-dna-to-fight-cancer-1533470402 | archive-date=May 16, 2023 | url-status=live }} 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,{{cite journal |last1=Wei |first1=Jianshu |last2=Guo |first2=Yelei |last3=Wang |first3=Yao |last4=Wu |first4=Zhiqiang |last5=Bo |first5=Jian |last6=Zhang |first6=Bin |last7=Zhu |first7=Jun |last8=Han |first8=Weidong |title=Clinical development of CAR T cell therapy in China: 2020 update |journal=Cellular & Molecular Immunology |date=April 2021 |volume=18 |issue=4 |pages=792–804 |doi=10.1038/s41423-020-00555-x |pmid=32999455 |pmc=8115146 }} with its IND application approved by the CFDA.{{cite journal |last1=Wei |first1=Jianshu |last2=Guo |first2=Yelei |last3=Wang |first3=Yao |last4=Wu |first4=Zhiqiang |last5=Bo |first5=Jian |last6=Zhang |first6=Bin |last7=Zhu |first7=Jun |last8=Han |first8=Weidong |title=Clinical development of CAR T cell therapy in China: 2020 update |journal=Cellular & Molecular Immunology |date=April 2021 |volume=18 |issue=4 |pages=792–804 |doi=10.1038/s41423-020-00555-x |pmid=32999455 |pmc=8115146 }} In the same year, Legend Biotech USA Inc. and Legend Biotech Ireland Limited, non-wholly owned subsidiaries of GenScript,{{cite news | title=GenScript Biotech Releases Announcement of its Latest Research and Development | work=MarketScreener | date=August 5, 2020 | url=https://www.marketscreener.com/quote/stock/GENSCRIPT-BIOTECH-CORPORA-25502710/news/Genscript-Biotech-VOLUNTARY-ANNOUNCEMENT-RESEARCH-AND-DEVELOPMENT-UPDATE-31065805/ | access-date=June 1, 2024 | archive-date=August 29, 2023 | archive-url=https://web.archive.org/web/20230829130641/https://www.marketscreener.com/quote/stock/GENSCRIPT-BIOTECH-CORPORA-25502710/news/Genscript-Biotech-VOLUNTARY-ANNOUNCEMENT-RESEARCH-AND-DEVELOPMENT-UPDATE-31065805/ | url-status=live }} entered into a collaboration agreement with Janssen Biotech{{cite news | title=Pharma Stock Roundup: Aerie's Rhopressa Approved, Label Expansion for BMY, Pfizer Drugs | work=Yahoo! Finance | date=December 22, 2017 | url=https://finance.yahoo.com/news/pharma-stock-roundup-aerie-apos-130201532.html | archive-url=https://archive.today/20230829130458/https://finance.yahoo.com/news/pharma-stock-roundup-aerie-apos-130201532.html | archive-date=August 29, 2023 | url-status=live | author=Arpita Dutt }} to share CAR-T treatments in the US and China.{{cite news | title=Chinese biotech: from copycat to innovator | newspaper=Financial Times | issn=0307-1766 | date=October 10, 2019 | url=https://www.ft.com/content/03812ddf-84a3-4540-9850-9a33cfe637d0 | archive-url=https://archive.today/20230829130431/https://www.ft.com/content/03812ddf-84a3-4540-9850-9a33cfe637d0 | archive-date=August 29, 2023 | url-status=live | author=Will Ballard }} Subsequently, GenScript fully acquired CustomArray.{{cite web | author=Vince Iral | title=Genscript Biotech to acquire US genomic sequencing company | work=S&P Global | date=December 27, 2017 | url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/kp_nk4xxb9xne06fo5dk3q2 | archive-url=https://web.archive.org/web/20230517175708/https://www.spglobal.com/marketintelligence/en/news-insights/trending/kp_nk4xxb9xne06fo5dk3q2 | archive-date=May 17, 2023 | url-status=live }}
In 2020, its subsidiary Probio was launched.{{cite web | author=Dede Williams | title=GenScript Raises $224 Million in Fresh Capital | work=CHEManager | date=January 25, 2023 | url=https://www.chemanager-online.com/en/news/genscript-raises-224-million-fresh-capital | archive-url=https://web.archive.org/web/20230610170937/https://www.chemanager-online.com/en/news/genscript-raises-224-million-fresh-capital | archive-date=June 10, 2023 | url-status=live }} 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.{{cite web | author=Lovelyn Tagalag | title=GenScript to collaborate with Singapore agency on COVID-19 test | work=S&P Global | date=May 15, 2020 | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/genscript-to-collaborate-with-singapore-agency-on-covid-19-test-58645319 | archive-url=https://archive.today/20230516151004/https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/genscript-to-collaborate-with-singapore-agency-on-covid-19-test-58645319 | archive-date=May 16, 2023 | url-status=live }} On November 6, the cPass test received emergency use authorization from the US FDA.{{cite web | title=Coronavirus (COVID-19) Update: FDA Authorizes First Test that Detects Neutralizing Antibodies from Recent or Prior SARS-CoV-2 Infection | publisher=Food and Drug Administration | website=www.fda.gov | date=November 6, 2020 | url=https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-authorizes-first-test-detects-neutralizing-antibodies-recent-or | archive-url=https://web.archive.org/web/20201106201335/https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-authorizes-first-test-detects-neutralizing-antibodies-recent-or | archive-date=November 6, 2020 | url-status=live }}{{cite journal |last1=Tan |first1=Chee-Wah |last2=Chia |first2=Wan-Ni |last3=Young |first3=Barnaby E. |last4=Zhu |first4=Feng |last5=Lim |first5=Beng-Lee |last6=Sia |first6=Wan-Rong |last7=Thein |first7=Tun-Linn |last8=Chen |first8=Mark I.-C. |last9=Leo |first9=Yee-Sin |last10=Lye |first10=David C. |last11=Wang |first11=Lin-Fa |title=Pan-Sarbecovirus Neutralizing Antibodies in BNT162b2-Immunized SARS-CoV-1 Survivors |journal=New England Journal of Medicine |date=7 October 2021 |volume=385 |issue=15 |pages=1401–1406 |doi=10.1056/NEJMoa2108453 |pmid=34407341 |pmc=8422514 }} Prior to that, Legend Biotech was listed on the NASDAQ under the symbol "LEGN".{{cite web | author=Lucinda Shen | title=ZoomInfo raises nearly $1 billion in its IPO | work=Fortune | date=June 5, 2020 | url=https://fortune.com/2020/06/05/zoominfo-raises-nearly-1-billion-in-its-ipo/ | archive-url=https://archive.today/20230517072432/https://fortune.com/2020/06/05/zoominfo-raises-nearly-1-billion-in-its-ipo/ | archive-date=May 17, 2023 | url-status=live }}
In 2022, Carvykti, a CAR-T cell therapy developed by Janssen Biotech and Legend Biotech, was approved by the US FDA for the treatment of multiple myeloma in adult patients.{{cite web | author=Peter Loftus | title=FDA Approves Cell-Based Multiple Myeloma Therapy Discovered in China | work=The Wall Street Journal | date=February 28, 2022 | url=https://www.wsj.com/articles/fda-approves-cell-based-multiple-myeloma-therapy-discovered-in-china-11646091257 | archive-url=https://archive.today/20230516105735/https://www.wsj.com/articles/fda-approves-cell-based-multiple-myeloma-therapy-discovered-in-china-11646091257 | archive-date=May 16, 2023 | url-status=live }} In the same year, it opened a protein and gene manufacturing facility in Singapore.{{cite web | title=GenScript's manufacturing facility boosts S'pore's role in fight against pandemic | author=Timothy Goh | work=The Straits Times | date=February 10, 2022 | url=https://www.straitstimes.com/singapore/health/genscripts-manufacturing-facility-boosts-spores-role-in-fight-against-pandemic | archive-url=https://archive.today/20230618143824/https://www.straitstimes.com/singapore/health/genscripts-manufacturing-facility-boosts-spores-role-in-fight-against-pandemic | archive-date=June 18, 2023 | url-status=live }}
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.{{Cite web |last=Ojha |first=Shreeyashi |date=2023-11-15 |title=Legend & Novartis sign $100m agreement - BioProcess Insider |url=https://bioprocessintl.com/bioprocess-insider/deal-making/legend-and-novartis-sign-100m-car-t-license-agreement/ |access-date=2023-11-30 |website=BioProcess International |language=en-US }}{{Dead link|date=June 2024 |bot=InternetArchiveBot |fix-attempted=yes }}
In May 2024, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party asked the Federal Bureau of Investigation (FBI) and Director of National Intelligence for a briefing on whether the Chinese government has any undue influence over GenScript and three of its subsidiaries (Bestzyme, Legend Biotech, and ProBio).{{Cite news |last=Freifeld |first=Karen |date=May 31, 2024 |title=US lawmakers ask FBI for briefing on GenScript Biotech's links to China |url=https://www.reuters.com/business/healthcare-pharmaceuticals/us-lawmakers-ask-fbi-briefing-genscript-biotechs-links-china-2024-05-31/ |access-date=May 31, 2024 |work=Reuters}}{{Cite web |date=2024-05-31 |title=Moolenaar, Krishnamoorthi Request FBI & DNI Briefing on Chinese Communist Party-Linked Biotech Firm |url=http://selectcommitteeontheccp.house.gov/media/press-releases/moolenaar-krishnamoorthi-request-fbi-dni-briefing-chinese-communist-party |access-date=2024-06-02 |website=Select Committee on the CCP |language=en |archive-date=2024-06-02 |archive-url=https://web.archive.org/web/20240602144245/https://selectcommitteeontheccp.house.gov/media/press-releases/moolenaar-krishnamoorthi-request-fbi-dni-briefing-chinese-communist-party |url-status=live }} GenScript's stock fell on the news.{{Cite news |last=Qin |first=Sherry |date=June 3, 2024 |title=GenScript Biotech Shares Drop After U.S. Lawmakers Scrutinize Chinese Ties |url=https://www.wsj.com/finance/stocks/genscript-biotech-shares-drop-after-u-s-lawmakers-scrutinize-chinese-ties-fadee581 |url-access=subscription |access-date=2024-06-04 |work=The Wall Street Journal |language=en-US |archive-date=2024-06-03 |archive-url=https://web.archive.org/web/20240603150830/https://www.wsj.com/finance/stocks/genscript-biotech-shares-drop-after-u-s-lawmakers-scrutinize-chinese-ties-fadee581 |url-status=live }}
References
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