BGNE - Week In Review: Immunotherapies Dominate The Week's China Biopharma News
Deals and Financings
Beijing's BeiGene ([[BGNE]]; HK: 06160) will receive a $150 million termination payment from Celgene (CELG) because Celgene will end its $1.4 billion partnership for ex-China rights to BeiGene's PD-1 candidate. The original deal included a provision that BeiGene's tislelizumab would be Celgene's only PD-1 project. Once Celgene agreed to be acquired by Bristol-Myers Squibb (BMY), tislelizumab was in jeopardy, given BMS's very successful anti-PD-1 antibody, Opdivo. In 2017, Celgene paid $263 million upfront for ex-China rights to tislelizumab.
Akeso Pharma of Zhongshan formed a $100 million JV with Chia Tai Tianqing Pharma