China’s WuXi PharmaTech, a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in both China and the United States, is expanding into the Israeli market. The company announced the establishment of a representative office in the Tel Aviv area of Israel.
WuXi PharmaTech says that it provides pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech’s services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec.
The new office, Wuxi says, will promote its broad platform of integrated R&D services to local customers in Israel. It will also collaborate with Pontifax, a leading healthcare-dedicated venture capital firm based in that country, to invest in promising technologies in Israel, particularly those that the company believes can potentially advance WuXi’s capabilities.
“We welcome WuXi’s presence in Israel and believe the new representative office will be mutually beneficial to WuXi and the Israeli biotech industry, ” said Tomer Kariv, CEO of Pontifax.
“We are excited to establish a presence in Israel and to contribute to one of the most dynamic healthcare innovation ecosystems in the world, ” said Dr. Ge Li, chairman and CEO of WuXi PharmaTech. “We value the expertise that Pontifax has developed in Israel’s biotech industry and look forward to working closely with them to help many of their portfolio companies and other startup companies. This step advances WuXi’s mission of helping entrepreneurs in the global life sciences industry to realize their dreams of developing innovative products to benefit the world’s patients.”