Deals and Financings
BeiGene (NSDQ: [[BGNE]]; HK: 06160), a Beijing oncology drug biopharma, announced a $2.1 billion private placement that will bring its cash holdings to almost $5.5 billion. The company is developing a portfolio of 25 candidates, with several of them in (or soon-to-start) Phase III tests. Last year, Amgen (AMGN) paid BeiGene $2.7 billion for a 20% stake in the company, and it contributed $421 million to the private placement, keeping its stake at 20.3%. BeiGene will develop a portfolio of Amgen cancer drugs in China.
Hangzhou Tigermed (SHZ: 300347), a clinical CRO,