With a big cash as­sist from lo­cal of­fi­cials, BeiGene is build­ing a $330M bi­o­log­ics fa­cil­i­ty in Chi­na

In the lat­est sign that Chi­na’s biotech in­dus­try is de­vel­op­ing at high speed, one of its most promi­nent biotechs is prepar­ing to break dirt on a $330 mil­lion bi­o­log­ics man­u­fac­tur­ing cen­ter in Guangzhou which will al­so pro­vide some di­rect sup­port for R&D ac­tiv­i­ties.

BeiGene struck a deal to build the fa­cil­i­ty in part­ner­ship with lo­cal de­vel­op­ment of­fi­cials who are kick­ing in close to half of the mon­ey. The biotech will part­ner with Guangzhou GET Tech­nol­o­gy De­vel­op­ment Co., which is con­tribut­ing $150 mil­lion in cash and con­vert­ible loans for the joint ven­ture. BeiGene will pro­vide $30 mil­lion of the cost and the rest will be cov­ered by loans.

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