Celgene in deal with Chinese firm to develop cancer candidate
US biotech major Celgene (Nasdaq: CELG) has entered into a strategic collaboration to develop and commercialize Chinese firm BeiGene’s (Nasdaq: BGNE) investigational anti-programmed cell death protein 1 (PD-1) inhibitor, BGB-A317, for patients with solid tumor cancers in the USA, Europe, Japan and rest of world outside Asia.
BeiGene will retain exclusive rights for the development and commercialization of BGB-A317 for hematological malignancies globally and for solid tumors in Asia (with the exception of Japan).
Under the terms of the deal, BeiGene will also acquire Celgene’s commercial operations in China and gain an exclusive license to commercialize Celgene’s approved therapies in China - Abraxane (paclitaxel protein-bound particles for injectable suspension) (albumin-bound), Revlimid (lenalidomide) and Vidaza (azacitidine).
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