BeiGene Announces Closing of Amgen Global Strategic Oncology Collaboration and Equity Investment
January 02 2020 - 8:15AM
BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a commercial-stage
biopharmaceutical company focused on developing and commercializing
innovative molecularly-targeted and immuno-oncology drugs for the
treatment of cancer, today announced that, following approval by
its shareholders and satisfaction of other closing conditions, the
global strategic oncology collaboration with Amgen (NASDAQ: AMGN),
previously announced on October 31, 2019, has become effective and
Amgen has completed its purchase of an approximately 20.5% equity
stake in BeiGene.
Under the terms of the collaboration, BeiGene will assume
responsibility for the commercialization and development in China
of Amgen’s three oncology medicines, XGEVA® (denosumab), KYPROLIS®
(carfilzomib), and BLINCYTO® (blinatumomab) that have been approved
or filed in China. BeiGene and Amgen will collaborate to advance 20
investigational oncology assets in Amgen’s pipeline, with BeiGene
leading development and commercialization in China. Amgen purchased
15,895,001 of BeiGene’s American Depositary Shares (representing
206,635,013 ordinary shares) for approximately $2.8 billion in
cash.
In addition, BeiGene today announced the election of Anthony C.
Hooper, former Executive Vice President of Global Commercial
Operations at Amgen, to its board of directors, effective today,
pursuant to the terms of the share purchase agreement. Mr. Hooper
joined Amgen in October 2011 as Executive Vice President of Global
Commercial Operations, a role he held until August 2018, before his
recent retirement. Prior to joining Amgen, Mr. Hooper spent more
than 15 years at Bristol-Myers Squibb. His last role there was
Senior Vice President, Global Commercial Operations and President
of the company’s pharmaceutical business in the Americas, Japan and
Intercontinental regions. Previously, Mr. Hooper was assistant vice
president of Global Marketing for Wyeth Laboratories and led the
international marketing group for Lederle International.
“We are excited to begin delivering on this opportunity to help
advance Amgen’s important oncology pipeline and portfolio for
patients who may benefit around the world. Through this strategic
collaboration with Amgen, we are also pleased to welcome Tony
Hooper to our board of directors. Tony’s commitment to patients and
his commercial experience with larger organizations will serve us
well as BeiGene continues to grow and expand our commercial
operations,” said John V. Oyler, Chairman, Co-Founder and CEO of
BeiGene.
“BeiGene is uniquely positioned to make a positive impact on
both our industry and patients by developing new cancer medicines
using a new global model enabled by the recent regulatory reforms
in China. Having spent time with the BeiGene team, I’m impressed by
their insights, ingenuity and commitment to delivering quality
treatments to more people in need,” said Mr. Hooper.
About BeiGene
BeiGene is a global, commercial-stage, research-based
biotechnology company focused on molecularly-targeted and
immuno-oncology cancer therapeutics. With a team of over 3,300
employees in China, the United States, Australia and Europe,
BeiGene is advancing a pipeline consisting of novel oral small
molecules and monoclonal antibodies for cancer. BeiGene is also
working to create combination solutions aimed to have both a
meaningful and lasting impact on cancer patients. In the United
States, BeiGene markets BRUKINSA™ (zanubrutinib) and in China, the
Company has received approval to market its anti-PD-1 antibody
tislelizumab and markets ABRAXANE® (paclitaxel for injection
[albumin bound]), REVLIMID® (lenalidomide), and VIDAZA®
(azacitidine) under a license from Celgene Logistics Sarl, a
Bristol-Myers Squibb company, and plans to market XGEVA®
(denosumab) under a license from Amgen.1,2
BeiGene Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws, including statements regarding
BeiGene’s plans and expectations for the further development and
potential commercialization of XGEVA, KYPROLIS, BLINCYTO and
Amgen’s oncology pipeline assets and the parties’ commitments and
the potential benefits of the collaboration. Actual results may
differ materially from those indicated in the forward-looking
statements as a result of various important factors, including
BeiGene's ability to demonstrate the efficacy and safety of its
drug candidates; the clinical results for its drug candidates,
which may not support further development or marketing approval;
actions of regulatory agencies, which may affect the initiation,
timing and progress of clinical trials and marketing approval;
BeiGene's ability to achieve commercial success for its marketed
products and drug candidates, if approved; BeiGene's ability to
obtain and maintain protection of intellectual property for its
technology and drugs; BeiGene's reliance on third parties to
conduct drug development, manufacturing and other services;
BeiGene’s limited operating history and BeiGene's ability to obtain
additional funding for operations and to complete the development
and commercialization of its drug candidates, as well as those
risks more fully discussed in the section entitled “Risk Factors”
in BeiGene’s most recent quarterly report on Form 10-Q, as well as
discussions of potential risks, uncertainties, and other important
factors in BeiGene's subsequent filings with the U.S. Securities
and Exchange Commission. All information in this press release is
as of the date of this press release, and BeiGene undertakes no
duty to update such information unless required by law.
Investor Contact |
Media Contact |
Craig West |
Liza Heapes
or Vivian Ni |
+1 857-302-5189 |
+1
857-302-5663 or +1 857-302-7596 |
ir@beigene.com |
media@beigene.com |
____________________________
1 ABRAXANE® is registered trademark of Abraxis
Bioscience LLC, a Bristol-Myers Squibb company;
REVLIMID® and VIDAZA® are registered trademarks
of Celgene Corporation, a Bristol-Myers
Squibb company.
2 XGEVA® is a registered trademark of Amgen.
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