BeiGene partner terminates lifirafenib licensing deal

28 December 2018

Chinese biotech firm BeiGene (Nasdaq: BGNE) yesterday revealed that, on December 19, it received notice from Merck KGaA (MRK: DE) that the German firm was terminating for convenience the parties’ license agreement dated December 10, 2013, as amended, for the company’s investigational RAF dimer inhibitor lifirafenib (BGB-283) in the People’s Republic of China (PRC).

BeiGene’s shares advanced 2.37% to HK$80.00 on news of the decision.

As a result of such termination, Merck’s exclusive right of first negotiation to acquire exclusive commercialization rights under the lifirafenib RAF dimer program in the PRC was terminated and BeiGene is no longer required to pay Merck royalties on sales of lifirafenib in the PRC or entitled to receive future milestone payments from Merck KGaA for lifirafenib. The company’s ex-PRC agreement with Merck on lifirafenib was terminated in March 2017.

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