Celgene joins the PD-1 checkpoint club, bagging BeiGene drug with $413M down and $1B on the table
Celgene is joining the fast growing PD-1 club.
The big biotech $CELG has taken a lead position in the second wave of PD-1 checkpoints in the clinic, bagging rights to BeiGene’s $BGNE candidate for solid tumors in a $1.4 billion deal, with $263 million of that paid upfront in a licensing fee, $150 million for an equity stake and $980 million more in milestones.
It’s a rich deal for this stage of the game, aimed at the richest healthcare markets on the planet. Celgene gets the US and European markets and everything else outside of Asia, which the Chinese company is keeping for itself, along with global development rights on hematological malignancies. Two years ago, Celgene paid AstraZeneca $450 million up front to partner on their PD-L1 for heme.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.