User:Ceyockey/WPReqArticle BeiGene-Entry
Native name | (unknown - zh.wikipedia does not have an article) |
|---|---|
| Industry | Pharmaceutical |
| Founded | 2010 |
| Founder |
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| Headquarters |
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Key people |
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| Owner | Celgene (5.9%)[2] |
Number of employees | |
| Website | English language site |
BeiGene, Ltd. (alternatively Beigene Co. Ltd.)[4] was founded in Beijing, China in 2010. The company's focus from inception to the present has been in the oncology therapeutic area, including the development of a proprietary cancer biology platform, based on a library of human cancer samples.[5] The company is engaged in small molecule, immunologic, and combined small-large molecule therapeutic development.
History
[edit]BeiGene was founded in Beijing, China in 2010 as a pre-clinical research and development company, on the premise of becoming "the Genentech of China".[2] One of the founders, John Oyler, put up US$10 million of his own money as seed funding for the venture.[6]
By 2013 it had begun running clinical trials. As of the 2017 partnership with Celgene, the company became a commercial pharmaceutical company.[7]
Partnerships
[edit]Celgene
[edit]The company's partnership with Celgene in 2018 related to clinical development of tislelizumab, a PD-1 inhibitor, as a second line treatment for Hodgkin's lymphoma, with plans to expand to several solid tumor cancers.[8] This partnership involved a US$1.4 billion infusion of capital by Celgene into BeiGene,[8] in addition to development milestone payments.[2] Celgene expects to be able to market the drug worldwide outside of China.[2]
Celgene has also granted BeiGene exclusive rights to sell the cancer drugs revlimid, abraxane and vidaza in China until around 2027.[7]
Merck
[edit]BeiGene's partnership with Merck Serono focused on development of pamiparib, a PARP inhibitor, also known as Beigene-290,[9] positioned as a cancer cell killing assist.[4][2] In exchange, Merck provided development milestone payments and expects to be able to sell the drug worldwide except in China and Germany.[2] BeiGene has also licenced a pre-clinical BRAF inhibitor to Merck.[10]
Corporate affairs
[edit]Key personnel
[edit]According to a report in 2018, the company's executive team was made up of Chinese and "international executives".[11]
As of 2018[update], the company's chief executive officer, also a co-founder, was John V. Oyler. an American.[12][11] Co-founding with Oyler in 2010 was Wang Xiaodong, a member of the US National Academy of Sciences.[12][13]
As of 2018[update], the company's chief financial officer was Howard Liang.[14]
As of 2018[update], the company's chief medical officer (in hematology) was Jane Huang.[8]
As of 2018, the head of the company's Chinese operations was Wu Xiaobin.[6]
Fundraising
[edit]Nasdaq began listing the company in 2016 following an initial public offering of 6.6 million shares at a per share price of US$24,[3][15] making BeiGene the first company founded in China to secure a listing on the Nasdaq exchange. The Nasdag offering was in American Depository shares, each representing thirteen ordinary shares.[12] BeiGene launched a second intial public offering of 65.6 million shares at a per price share of HK$108 on the HKEX Hong Kong exchange in 2018, which netted the company US$0.9 billion,[15] making it the largest offering for a biotech company on the exchange up to that point.[11] This Hong Kong listing was the first conducted under new rules established by the Hong Kong exchange to encourage an influx of secondary listings, as well as having taken advantage of new HKEX rules meant to encourage an influx of pre-revenue drug developers (pharmas that have yet to generate revenue from drugs on the market).[12][14]
The firm was running losses as of the second IPO in 2018, specifically US$105 million for the first quarter.[12]
References
[edit]- ^ Weisman, Robert (February 4, 2016). "2 biotech stocks soar in debut". The Boston Globe. Vol. 289, no. 35. p. C1 – via Newspapers.com.
- ^ a b c d e f g Erickson, Simon (July 3, 2018). "3 Reasons BeiGene Needs to Be on Your Radar". The Motley Fool. Retrieved November 2, 2019.
{{cite web}}: CS1 maint: url-status (link) - ^ a b "Overview". IPOs. Nasdaq. Retrieved November 2, 2019.
BEIGENE, LTD. (BGNE)
{{cite web}}: CS1 maint: url-status (link) - ^ a b Yoffee, Lynn. "John Oyler Aims To Build China's Genentech via Beigene". BioWorld. Clarivate Analytics. Retrieved November 2, 2019.
{{cite web}}: CS1 maint: url-status (link) - ^ "Special Report: Business in China: Fast and furious". Back to Business. The Economist. Vol. 416, no. 8955. September 12, 2015. p. 10 – via Internet Archive.
- ^ a b "Beijing bullish on pharma business". Orlando Sentinel. Vol. 142, no. 175. Tribune Online Content. Bloomberg. June 24, 2018. p. A15 – via Newspapers.com.
- ^ a b Campbell, Todd (August 9, 2017). "Why BeiGene Soared 56.6% In July". The Motley Fool. Retrieved November 2, 2019.
Overall, this is an intriguing deal. BeiGene immediately starts generating revenue from selling Celgene's drugs in China, and it doubles its cash thanks to the upfront money Celgene paid. It gains a partner with deep pockets and tons of clinical trial experience, which paves the way to a quicker path to ex-Asia commercialization.
{{cite web}}: CS1 maint: url-status (link) - ^ a b c Carroll, John (July 22, 2018). "Number 7? Celgene partner BeiGene joins the crowd with stellar PD-1/L1 data from a pivotal test". Endpoints News. Lawrence, Kansas: Endpoints Company. Retrieved November 2, 2019.
- ^ Sheridan, Cormac (November 14, 2013). "Beigene Inks $228M PARP Inhibition Pact With Merck Serono". BioWorld. Clarivate Analytics. Retrieved November 2, 2019.
{{cite web}}: CS1 maint: url-status (link) - ^ Schuster, Larry (June 10, 2013). "BeiGene Inks $233M Deal with Merck for Cancer Drug". BioWorld. Clarivate Analytics. Retrieved November 2, 2019.
{{cite web}}: CS1 maint: url-status (link) - ^ a b c Staff (August 3, 2018). "China's BeiGene raises $903m from Hong Kong IPO". PMLiVE. PMGroup Worldwide. Retrieved November 2, 2019.
{{cite web}}: CS1 maint: url-status (link) - ^ a b c d e Lau, Fiona; Zhu, Julie (August 2, 2018). Cushing, Christopher (ed.). "Chinese biotech BeiGene raises $903 million in HK's first secondary listing under new rules: sources". Reuters. Retrieved November 2, 2019.
- ^ Benjamin P. Liu, Fighting Poison with Poison? The Chinese Experience with Pharmaceutical Patent Linkage, 11 J. MARSHALL REV. INTELL. PROP. L. 623(2012).Via—Google Books (Preview). PAGE LINK
- ^ a b Yiu, Enoch; Ng, Eric (August 8, 2018). "Chinese cancer drug maker BeiGene drops 5 per cent on Hong Kong debut". South China Morning Post (International ed.). Hong Kong. Retrieved November 2, 2019.
- ^ a b Mukherjee, Sy (August 2, 2018). "This Biotech Just Had a $903 Million IPO—And It's Disappointed". Fortune. Retrieved November 2, 2019.
Further reading
[edit]- Lopes, Jose Marques (July 27, 2018). "BeiGene's Therapy Candidate Appears to Eliminate Tumors in Half of Hodgkin's Patients in Phase 2 Trial". Lymphoma News Today. Philadelphia, Pennsylvania, United States: BioNews Services. Retrieved November 2, 2019.
- Shih, Willy; Zhang, Jimmy (November 2017). BeiGene. HBS Case Collection (Report). Harvard Business School. Retrieved November 4, 2019.
- Staff (July 9, 2018). "BeiGene enters collaboration on solid tumors with Pfizer spin-out". The Pharma Letter. London. Retrieved November 4, 2019.
External links
[edit]- Financial information aggregators: Yahoo! Finance; Bloomberg; Seeking Alpha; Business Insider; CNN Money