Wuxi Biologics, a leading provider of services for the discovery, development and manufacturing of biologics, raised $510 million in its Hong Kong IPO on June 12, 2017. The company is one of four business entities that emerged from the privatization of Wuxi Pharma, which was led by Hillhouse and completed in December of 2015.

Hillhouse backed the Wuxi Pharma privatization in part because of its belief in the growth prospects of the biologics market, as well as the strength of the company’s overall management team.