BeiGene Announces Closing of Global Strategic Oncology Collaboration with Celgene Corporation

On August 31, 2017 BeiGene, Ltd. (NASDAQ:BGNE), a clinical-stage biopharmaceutical company developing innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer, reported the closing of its global strategic oncology collaboration with Celgene Corporation (Press release, BeiGene, AUG 31, 2017, View Source [SID1234520354]).

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The collaboration was announced on July 5, 2017. Under the terms of the agreements, BeiGene has acquired Celgene’s commercial operations in China and assumed commercial responsibility for Celgene’s approved therapies in China (Abraxane, Revlimid, and Vidaza) and pipeline agent CC-122. Celgene has received exclusive rights to develop and commercialize BeiGene’s investigational anti-PD1 antibody, BGB-A317, for solid tumors in the United States, Europe, Japan, and the rest of the world outside of Asia. BeiGene retains rights to BGB-A317 for solid tumors in Asia (excluding Japan), and for hematological malignancies and internal BeiGene combinations globally. BeiGene will receive an aggregate of $413 million from Celgene in upfront licensing fees and equity investment, and will be eligible for up to an additional $980 million in development, regulatory, and sales milestones, as well as royalties on future sales of BGB-A317.

About BGB-A317

BGB-A317 is an investigational humanized monoclonal antibody that belongs to a class of immuno-oncology agents known as immune checkpoint inhibitors. It is designed to bind to PD-1, a cell surface receptor that plays an important role in downregulating the immune system by preventing the activation of T-cells. BGB-A317 has high affinity and specificity for PD-1. It is differentiated from the currently approved PD-1 antibodies in an engineered Fc region, which is believed to minimize potentially negative interactions with other immune cells. BGB-A317 is being developed as a monotherapy and in combination with other therapies for the treatment of a broad array of both solid tumor and hematologic cancers. BeiGene and Celgene have a global strategic collaboration for BGB-A317 for solid tumors.