BeiGene (BGNE) said late Thursday it has signed a global licensing agreement with CSPC Zhongqi Pharmaceutical Technology for its experimental cancer therapy, SYH2039.
Under the terms of the deal, the company said it has an exclusive worldwide license to develop, manufacture and commercialize SYH2039.
CSPC will receive $150 million in upfront, time-based payments, potential milestone payments and tiered royalties.
The company said its experimental drug, BGB-58067, is expected to enter clinical trials by the end of the year and aims to avoid the hematological toxicity associated with first-generation PRMT5 inhibitors.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments