BeiGene Announces Closing of Amgen Global Strategic Oncology Collaboration and Equity Investment

According to globenewswire.com, BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, has announced that, following approval by its shareholders and satisfaction of other closing conditions, the global strategic oncology collaboration with Amgen (NASDAQ: AMGN), previously announced on October 31, 2019, has become effective and Amgen has completed its purchase of an approximately 20.5% equity stake in BeiGene.

BeiGene is a global, commercial-stage, research-based biotechnology company focused on molecularly-targeted and immuno-oncology cancer therapeutics. With a team of over 3,300 employees in China, the United States, Australia and Europe, BeiGene is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer. BeiGene is also working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients.

Under the terms of the collaboration, BeiGene will assume responsibility for the commercialization and development in China of Amgen’s three oncology medicines, XGEVA^® (denosumab), KYPROLIS^® (carfilzomib), and BLINCYTO^® (blinatumomab) that have been approved or filed in China. BeiGene and Amgen will collaborate to advance 20 investigational oncology assets in Amgen's pipeline, with BeiGene leading development and commercialization in China. Amgen purchased 15,895,001 of BeiGene's American Depositary Shares (representing 206,635,013 ordinary shares) for approximately $2.8 billion in cash.

In addition, BeiGene also announced the election of Anthony C. Hooper, former Executive Vice President of Global Commercial Operations at Amgen, to its board of directors, effective at the same time, pursuant to the terms of the share purchase agreement. Mr. Hooper joined Amgen in October 2011 as Executive Vice President of Global Commercial Operations, a role he held until August 2018, before his recent retirement. Prior to joining Amgen, Mr. Hooper spent more than 15 years at Bristol-Myers Squibb. His last role there was Senior Vice President, Global Commercial Operations and President of the company's pharmaceutical business in the Americas, Japan and Intercontinental regions. Previously, Mr. Hooper was assistant vice president of Global Marketing for Wyeth Laboratories and led the international marketing group for Lederle International.

Established in Thousand Oaks, California, in April 1980, Amgen is one of the world’s leading biotechnology companies, deeply rooted in science and innovation to transform new ideas and discoveries into medicines for patients with serious illnesses. It uses cutting-edge science and technology to study the subtlest biological mechanisms in search of therapies that will improve the lives of those who suffer from serious diseases.