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Celgene and BeiGene will jointly develop BeiGene’s investigational anti-programmed cell death protein 1 inhibitor, BGB-A317, in the U.S., Europe, Japan, and the rest of the world outside Asia, where BeiGene will retain rights. BGB-A317 is an antibody that treats solid tumors. Celgene will pay BeiGene a $263 million license fee and acquire a 5.9% stake in the Chinese firm. BeiGene will acquire Celgene’s operations in China and gain a license to commercialize Celgene’s approved therapies in China.
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