Company type | Public |
---|---|
SEHK: 1548 | |
Industry | Life sciences |
Founded | 2002 in New Jersey [1] |
Founders | Fangliang Zhang, Ye Wang, Luquan Wang |
Headquarters | Piscataway, NJ [2] |
Area served | Worldwide |
Number of employees | 6213 (2022) |
Website | www.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]
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]
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