China's Jiangsu Hengrui says $240M biopharmaceutical plant in the works

China's Jiangsu Hengrui Medicine said it will invest as much as $240 million to build a biopharmaceutical manufacturing plant in Jiangsu Province that will be able to export products once completed. Earlier this month, Jiangsu Hengrui signed a deal with U.S.-based Incyte ($INCY) that could be worth as much as $795 million with milestones to outlicense rights outside of Greater China for its clinical-stage anti-PD-1 monoclonal antibody candidate, the latest of a string of deals in the past few months. Incyte paid $25 million upfront for a candidate that Hengrui has previously said it expects to enter a Phase II trial in patients with solid tumor cancers by the end of the year. In July, the company signed a deal with China-based cancer diagnostics company Shuwen Biotech to work on development of a companion diagnostic for an unspecified Hengrui cancer treatment. The company also said it set up a unit in a research park in Suzhou with a registered capital of RMB100 million ($16.11 million) and then spent RMB850 million ($137 million) to have wholly owned subsidiary Suncadia build a biologics manufacturing plant, joining companies such as Innovent Biologics due to come online in Suzhou with biologics manufacturing operations. Release (in Chinese)