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BeiGene, Shoreline Biosciences Ink Development Pact For NK Cell Therapies In Cancer

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BeiGene, Shoreline Biosciences Ink Development Pact For NK Cell Therapies In Cancer
  • Shoreline Biosciences Inc and BeiGene Ltd (NASDAQ: BGNE) have announced an exclusive worldwide strategic collaboration to develop and commercialize a portfolio of NK-based cell therapeutics with Shoreline's iPSC NK cell technology for different malignancies.
  • Under the terms of the agreement, Shoreline will receive an upfront cash payment of $45 million and will be eligible to receive additional R&D funding, milestone payments.
  • In the multi-target collaboration, the companies will develop cell therapies for four designated therapeutic targets, with an option to expand.
  • Clinical development will be led by BeiGene globally, with Shoreline responsible for clinical manufacturing.
  • BeiGene will have commercial rights globally, with Shoreline having an option to retain U.S. and Canadian commercialization rights for two targets.
  • BeiGene also has an option to acquire an equity stake in Shoreline.
  • Price Action: BGNE shares closed at $348 on Tuesday.
 

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Posted-In: Briefs cancerBiotech News Health Care Contracts General

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