Nov. 13, 2013
Merck Serono announced on Nov. 13, 2013 that a global licensing, co-development, and commercialization agreement for BeiGene-290 has been signed with BeiGene, a biotech research and development company in Beijing, China. The compound, which is a potent poly (ADP-ribose) polymerase (PARP) inhibitor for the treatment of cancer, is currently in preclinical development and is expected to enter clinical development next year. This is the second collaboration agreement between the two companies this year.
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 in the rest of the world. BeiGene will receive an undisclosed upfront payment and is eligible to receive further payments of up to $232 million for the achievement of clinical development and potential commercial milestones in both the People’s Republic of China and the rest of the world, as well as royalties on net sales.