Merck Serono signs cancer drug deal with China’s BeiGene
Merck Serono, the biopharma division of the Merck Group, has announced a global licensing, co-development and commercialization deal with China’s BeiGene Co., Ltd. This is the second collaboration agreement between the two companies in 2013.
This agreement focuses mainly on the compound, BeiGene-290, which is a potent poly (ADP-ribose) polymerase (PARP) inhibitor for the treatment of cancer. BeiGene-290 is currently in preclinical development and is expected to enter clinical development next year.
“We are delighted to announce an expansion of our strategic partnership with BeiGene. Today’s announcement highlights our commitment both to establishing strong R&D partnerships in China but also to our partner BeiGene, a preeminent Chinese life sciences company focused on discovering and developing innovative oncology drugs.”
Dr. Susan Jane Herbert, Head of Global Business Development and Strategy for Merck Serono.
Under the terms of the collaboration, BeiGene will be responsible for the development and commercialization of BeiGene-290 in China, and Merck will be responsible for the development and commercialization of BeiGene-290 for the rest of the world.
John Oyler, CEO of BeiGene.
All the financial details for this collaboration have not been disclosed, however BeiGene is eligible to receive payments of up to €170 million (US$ 232 million) for the achievement of clinical development and potential commercial milestones in both the People’s Republic of China and rest of the world, as well as royalties on net sales.
Merck signs cancer drug research deal with China’s BeiGene (Financial Times)
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