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.