BeiGene Closes on Property for New U.S. Manufacturing and Clinical R&D Center
November 23 2021 - 7:00AM
Business Wire
BeiGene plans to develop 42-acre site at
Princeton West Innovation Park in Hopewell, New Jersey as a
manufacturing site for advanced new medicines
BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a global
biotechnology company focused on developing and commercializing
innovative cancer medicines worldwide, announced today that it has
purchased a 42-acre site at the Princeton West Innovation Campus in
Hopewell, N.J. to house a new state-of-the-art manufacturing campus
and clinical R&D center. As a key part of BeiGene’s continued
growth, the company is investing in U.S. manufacturing to further
expand and diversify its global supply chain and build new
manufacturing capabilities for its deep pipeline of biologic and
drug candidates.
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Rendering of BeiGene’s planned
state-of-the-art manufacturing campus and clinical R&D center
on its new 42-acre site at the Princeton West Innovation Campus in
Hopewell, N.J. Credit: BeiGene
Subject to finalizing the development plans, BeiGene expects to
invest several hundred million dollars in the initial phase of
construction, in addition to the acquisition of the property, for
the state-of-the-art facility that is expected to include up to
approximately 400,000 square feet of dedicated commercial-stage
biologic pharmaceutical manufacturing, including up to 16,000
liters of biologics capacity, along with clinical R&D and
office space. Construction of the initial phase is expected to
commence in 2022 and be completed in late-2023 or in 2024. In
addition, the property has more than one million square feet of
developable real estate for potential future expansion.
“With this property acquisition, we plan to establish a flagship
manufacturing and clinical R&D center in the U.S. to diversify
our global supply chain. We are proud to take this next step in our
journey to advance impactful treatments and make them more
accessible to patients around the world,” said John V. Oyler,
Co-Founder, Chairman, and CEO of BeiGene. “We have already begun
hiring additional colleagues from the deep talent pool in New
Jersey and look forward to serving as a member of the thriving
Princeton-Hopewell business community.”
“We are extremely excited that BeiGene has taken the next step
in the company’s push to manufacture innovative cancer medicines
right here in New Jersey,” said Governor Phil Murphy. “Our goal
since day one has been to create an environment in New Jersey that
fosters the growth of companies like BeiGene and we are excited to
see what’s next as the company expands.”
“With more new companies, like BeiGene, coming into the
Princeton West Innovation Campus, Hopewell Township's future as a
leader in the biotech base continues to come to fruition. BeiGene's
expertise in developing innovative cancer treatments combined with
their planned state-of-the-art facility makes this a win-win-win
for Hopewell, BeiGene, and the millions of cancer patients whose
lives will hopefully improve from BeiGene medicines. We are proud
that those medicines will be manufactured right here," said
Hopewell Township Mayor Julie Blake.
BeiGene acquired the Hopewell property from Lincoln Equities
Group and has retained DPR Construction as its construction
management firm and IPS as its architectural and engineering
firm.
About BeiGene
BeiGene is a global, science-driven biotechnology company
focused on developing innovative and affordable medicines to
improve treatment outcomes and access for patients worldwide. With
a broad portfolio of more than 40 clinical candidates, we are
expediting development of our diverse pipeline of novel
therapeutics through our own capabilities and collaborations. We
are committed to radically improving access to medicines for two
billion more people by 2030. BeiGene has a growing global team of
over 7,700 colleagues across five continents. To learn more about
BeiGene, please visit www.beigene.com and follow us on Twitter at
@BeiGeneGlobal.
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 to establish a new manufacturing
and clinical R&D center in New Jersey, to manufacture
commercial-stage medicines and drug candidates at the site and to
diversify its global supply chain, the expected timing for the
initiation and completion of construction, BeiGene’s anticipated
investment in and recruiting of talent for the new manufacturing
and R&D center, and BeiGene’s plans, commitments, aspirations
and goals under the heading “About BeiGene”. 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
medicines and drug candidates, if approved; BeiGene's ability to
obtain and maintain protection of intellectual property for its
medicines and technology; BeiGene's reliance on third parties to
conduct drug development, manufacturing and other services;
BeiGene’s limited experience in obtaining regulatory approvals and
commercializing pharmaceutical products and its ability to obtain
additional funding for operations and to complete the development
and commercialization of its drug candidates and achieve and
maintain profitability; and the impact of the COVID-19 pandemic on
BeiGene’s clinical development, regulatory, commercial and other
operations, 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.
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BeiGene Investors Gabrielle Zhou +86 010 5895 8058 or +1
857-302-5189 ir@beigene.com
BeiGene Media Liza Heapes +1 857-302-5663
media@beigene.com
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