GenScript Biotech
| Company type | Public |
|---|---|
| Industry | Biotechnology |
| Founded | January 1, 2002 in New Jersey, United States |
| Founder | Fangliang Zhang, Ye Wang, Luquan Wang |
| Headquarters | China , China |
Area served | Global (China, Singapore, Japan, United Kingdom, Netherlands) |
Key people | Shao Weihui (CEO) |
| Products | Instruments and services for life science research; CDMO; life science services and products; integrated cell therapy; industrial synthetic products |
GenScript Biotech Corporation, commonly known as GenScript Biotech, is a biotechnology company headquartered in China. It was co-established in 2002 in New Jersey by founders Fangliang Zhang, Ye Wang, and Luquan Wang. The firm focuses on providing instruments and services for life science research and has been publicly traded on the Hong Kong Stock Exchange since 2015. The company’s CEO is Shao Weihui, who formerly held the roles of Chief Operating Officer and Secretary of the Chinese Communist Party Committee within the organization.
With a global presence, GenScript maintains offices across China, Singapore, Japan, the United Kingdom, and the Netherlands. Its operations are divided into four main sectors: contract development and manufacturing organization (CDMO), life science services and products, integrated cell therapy, and industrial synthetic products. Prominent subsidiaries under GenScript include Legend Biotech, ProBio Technology, and Bestzyme.
In September 2021, GenScript, along with its subsidiary ProBio, secured Series A funding from Hillhouse Capital to support its growth initiatives. The company remains committed to advancing innovation within the global biotechnology industry.
History
GenScript’s origins trace back to its founding in New Jersey in 2002, followed by establishing a research and manufacturing hub in Nanjing, China, in 2004. In 2009, the firm attracted a $15 million investment from the KPCB China Fund. Its international expansion included opening a subsidiary in Japan in 2011 and launching Bestzyme in 2013. Legend Biotech was founded as another subsidiary in 2014. The company went public on the SEHK in 2015.
In 2017, Nanjing Legend obtained regulatory approval from Chinese authorities to initiate clinical trials for a blood cancer treatment after receiving its Investigational New Drug (IND) application approval from the CFDA. That year also saw Legend Biotech’s USA and Ireland subsidiaries partner with Janssen Biotech to develop CAR-T therapies targeting markets in both China and the United States. Additionally, GenScript completed the full acquisition of CustomArray.
The year 2020 marked the launch of GenScript’s ProBio subsidiary and a collaboration with Duke-NUS Medical School to develop the cPass serology test for COVID-19 detection. This test subsequently received emergency use authorization from the US FDA within the same year. Furthermore, Legend Biotech was listed on NASDAQ under the ticker "LEGN."
In 2022, Carvykti—a CAR-T therapy co-developed by Janssen Biotech and Legend Biotech—secured US FDA approval for treating multiple myeloma. That year also saw GenScript inaugurate a protein and gene manufacturing facility in Singapore to bolster its production capacity.
In November 2023, Legend Biotech entered into an out-licensing agreement with Novartis for developing and producing CAR-T therapies targeting DLL3, including the neuroendocrine carcinoma candidate LB2102. Novartis provided an upfront payment of $100 million with potential milestone payments reaching $1.01 billion alongside tiered royalty arrangements.
By May 2024, the US House Select Committee on Strategic Competition between the United States and the Chinese Communist Party requested briefings from both the FBI and Director of National Intelligence concerning potential influence exerted by the Chinese government over GenScript and its subsidiaries Bestzyme, Legend Biotech, and ProBio. This inquiry coincided with a decline in GenScript’s stock valuation.