On August 31, 2017, Global Law Office represents BeiGene Ltd. (BeiGene, NASDAQ: BGNE) in completing a global strategic oncology collaboration with Celgene Corporation (Celgene, NASDAQ: CELG). The amount involved in this transactions is close to USD1.4 billion, and is reported to be the largest deal of an international collaboration in China biopharma sector.
The collaboration was first announced on July 5, 2017. Under the terms of the agreements, BeiGene has acquired Celgene's commercial operations in China and assumed commercial responsibility for Celgene's approved therapies in China (Abraxane®, Revlimid®, and Vidaza®) and pipeline agent CC-122. Celgene has received exclusive rights to develop and commercialize BeiGene's investigational anti-PD1 antibody, BGB-A317, for solid tumors in the United States, Europe, Japan, and the rest of the world outside of Asia. BeiGene retains rights to BGB-A317 for solid tumors in Asia (excluding Japan), and for hematological malignancies and internal BeiGene combinations globally. BeiGene will receive an aggregate of $413 million from Celgene in upfront licensing fees and equity investment, and will be eligible for up to an additional $980 million in development, regulatory, and sales milestones, as well as royalties on future sales of BGB-A317.
BeiGene is a global, clinical-stage, research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
As the leading PRC legal counsel to BeiGene, Global Law Office assisted BeiGene in PRC legal works including the due diligence, business negotiation, signing and closing of the transaction documents, and provided comprehensive legal services to this strategic cooperation project. This project team of Global Law Office was led by partners Alan L. Zhou Lei and Robert Sun. Team members include Felicia Wang, Sylvia Dong and Will Shen.