John Oyler, Founder & CEO of BeiGene, at the US-China Biopharma Innovation and Investment Summit in Shanghai on October 23, 2018; Credit: Endpoints News, PharmCube

As Bris­tol-My­ers/Cel­gene tie up loose ends, BeiGene pock­ets $150M from PD-1 breakup

As soon as Bris­tol-My­ers Squibb an­nounced its $74 bil­lion buy­out for Cel­gene, BeiGene emerged as a promi­nent ex­am­ple of a play­er whose pact with the big biotech could sour, as its PD-1 can­di­date seems to over­lap with Op­di­vo. Af­ter six months of sus­pense, the part­ners say they are fi­nal­ly bring­ing the 2-year-old deal to an am­i­ca­ble end.

BeiGene $BGNE gets $150 mil­lion for the ter­mi­na­tion in ad­di­tion to full glob­al rights to tislelizum­ab. In 2017 Cel­gene had paid $263 mil­lion in up­front li­cense fees to de­vel­op the PD-1 in­hibitor for sol­id can­cers in the US, Eu­rope, Japan and the rest of the world out­side Asia. It al­so threw in a $150 mil­lion eq­ui­ty in­vest­ment in ex­change for BeiGene han­dling its com­mer­cial op­er­a­tions — think Abrax­ane, Revlim­id and Vi­daza — in Chi­na.

Endpoints News

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