8-K/AMaterial AgreementsRegulation FDOther Events+1

BeOne Medicines Ltd. 8-K/A Report, Agreement Terminated (Jun 18, 2019)

Filed June 18, 2019For Securities:ONCBEIGF

Summary

BeiGene, Ltd. (ONC) filed an 8-K/A to correct a previous filing, primarily to provide the accurate Exhibit 99.1. The most significant event disclosed is the mutual termination of the collaboration agreement with Celgene Corporation regarding tislelizumab, BeiGene's investigational anti-PD-1 antibody. As a result of this termination, BeiGene has regained full global development and commercialization rights for tislelizumab. In connection with this termination, Celgene will pay BeiGene $150 million. This move represents a significant strategic shift, allowing BeiGene to control the global future of tislelizumab. The filing also touches upon the presentation of clinical data for zanubrutinib and updated results for tislelizumab at the 24th European Hematology Association (EHA) Congress.

Key Highlights

  • 1BeiGene has regained full global development and commercialization rights for its investigational anti-PD-1 antibody, tislelizumab, following the termination of its agreement with Celgene.
  • 2Celgene will pay BeiGene $150 million as part of the mutual termination agreement.
  • 3The company presented clinical data updates for zanubrutinib and tislelizumab at the 24th European Hematology Association (EHA) Congress.
  • 4This filing is an amendment to a previous 8-K to correct an exhibit, specifically Exhibit 99.1 related to the tislelizumab rights.
  • 5BeiGene's rights to distribute ABRAXANE®, REVLIMID®, and VIDAZA® in China remain unchanged under a separate agreement with Celgene Logistics Sàrl.
  • 6BeiGene announced it will host a conference call and webcast to discuss mid-2019 clinical data updates on June 20, 2019.

Frequently Asked Questions

This filing is an amendment (8-K/A) to a previous 8-K filing to correct an exhibit. Specifically, it provides the correct Exhibit 99.1, which is a press release announcing BeiGene's regain of full global rights to tislelizumab.

Celgene will pay BeiGene $150 million in connection with the mutual termination of the agreement. This substantial payment provides BeiGene with capital and allows them to retain full control over tislelizumab's development and commercialization.

Regaining full global rights means BeiGene now has complete control over the strategic direction, development, and commercialization of tislelizumab worldwide. This allows them to make independent decisions about its future, potentially accelerating its market entry and maximizing its value.

Yes, the filing also references BeiGene's participation in the 24th European Hematology Association (EHA) Congress, where they presented clinical results for both zanubrutinib (a BTK inhibitor) and tislelizumab. Additionally, BeiGene announced a conference call for June 20, 2019, to discuss mid-2019 clinical data updates.