Aug. 20 Financial Quick Takes: WuXi companies report increased profits; plus Graybug, Araris and Sarepta

WuXi AppTec and WuXi Biologics report interim revenues
WuXi AppTec Co. Ltd. (Shanghai:603259; HKSE:2359) and WuXi Biologics Inc. (HKEX:2269) reported gross profits of RMB2.3 billion ($324 million) and RMB671 million ($95 million) in 1H19, up 30% and 62% over 1H18, respectively. WuXi AppTec saw revenue increases in all sectors including U.S.- and China-based laboratory services, CMO services and clinical research and CRO services. WuXi Biologics said its gains were driven by 32 new projects including eight programs using its WuXiBody bispecific antibody technology, milestone payments and increased operational efficiency at its manufacturing sites.

Graybug raises $80 million series C, Michael Keyoung to join board
Graybug Vision Inc. (Redwood City, Calif.) raised $80 million in a series C round led by new investor CBC Group. Also participating were existing investors Deerfield Management, OrbiMed Advisors, Hatteras Venture Partners and a Blackstone Life Sciences fund, along with other undisclosed new investors. The ophthalmic company will use the funds to test lead candidate GB-102 in the Phase IIb ALTISSIMO study for wet age-related macular degeneration and in a Phase IIa study in macular edema secondary to diabetic macular edema or retinal vein occlusion. Graybug also said CBC's Michael Keyoung will join the company's board...