Ambrx and BeiGene collaborate on next generation biologics
USA-based biotech firm Ambrx is set to get an upfront payment of $10 million under a global research and development collaboration with China’s BeiGene (Nasdaq: BGNE), the news of which pushed the latter’s share down 3.6% to $144.19 today.
Chinese venture capital back Ambrx has developed proprietary expanded genetic code technology platforms designed to allow the efficient incorporation of non-natural amino acids into proteins in both E. Coli (ReCODE) and CHO cells (EuCODE). This technology enables site-specific modification of proteins to create potentially first- and/or best-in-class innovative protein drugs. The collaboration leverages Ambrx’ clinically validated drug discovery technology platforms with BeiGene’s expertise and resources to pursue the development and commercialization of next-generation biologics drugs.
Deal includes up to $446 million in milestones
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