BeiGene and Amgen Announce the Effectiveness of Global Oncology Strategic Collaboration and Equity Investment

CAMBRIDGE, Mass., and BEIJING, Jan. 2, 2020 /PRNewswire/ -- BeOne Medicines (NASDAQ: BGNE; HKEX: 06160), a commercial-stage biopharmaceutical company focused on the development and commercialization of innovative molecularly targeted and tumor immunology drugs for cancer treatment, announced today that its global oncology strategic collaboration with Amgen, reached on October 31, 2019, has received approval from the Company’s shareholders and satisfied other closing conditions, and is now officially effective. Meanwhile, Amgen has completed the acquisition of approximately 20.5% of BeOne Medicines’ shares.

Under the terms of the collaboration, BeOne Medicines will be responsible for three oncology drugs approved or filed by Amgen in China, including Xgeva^®（XGEVA^®) Denosumab Injection, KYPROLIS^®Carfilzomib for Injection and BLINCYTO^®Commercialization and Development of Blinatumomab for Injection in China. BeOne Medicines and Amgen will collaborate to develop 20 investigational oncology assets from Amgen’s pipeline, with BeOne Medicines responsible for their development and commercialization in China. Amgen purchased 15,895,001 American Depositary Shares (representing 206,635,013 ordinary shares) of BeOne Medicines for approximately $2.8 billion in cash.

In addition, BeOne Medicines announced that, pursuant to the relevant share acquisition agreements, Mr. Anthony C. Hooper, former Executive Vice President of Global Commercial Operations at Amgen, has been elected as a member of the Company’s Board of Directors, effective today. Mr. Hooper joined Amgen in October 2011 as Executive Vice President of Global Commercial Operations and served in this role until August 2018, after which he retired from the company. Prior to that, Mr. Hooper spent 15 years at Bristol-Myers Squibb, where his most recent position was Senior President of Global Commercial Operations and President of its Pharmaceutical Business for the Americas, Japan, and Intercontinental regions. Mr. Hooper’s earlier experience includes serving as Assistant Vice President of Global Marketing at Wyeth and leading the International Marketing Department of Lederle International.

Mr. John Oyler, Chairman, Founder, and Chief Executive Officer of BeOne Medicines, stated, “We are pleased to commence the development of Amgen’s important oncology drugs and product pipeline, helping patients worldwide who may benefit from these therapies. Through this strategic collaboration, we also”Tony HooperA warm welcome to join the Company’s Board of Directors.Tony“Dedicated to serving patients, he brings years of extensive commercialization experience gained at large corporations, which will help drive BeOne Medicines’ future growth and expand its commercial operations.”

Mr. Hooper remarked, “Against the backdrop of China’s pharmaceutical reforms, BeOne Medicines has pioneered a unique globalization model for developing novel cancer therapies, delivering positive impacts for both the pharmaceutical industry and patients. After spending time with the BeOne Medicines team, I was deeply impressed by their insights, creativity, and unwavering commitment to bringing high-quality treatment options to patients.”

About BeOne Medicines 

BeOne Medicines is a global, commercial-stage, R&D-driven biotechnology company focused on the development of molecularly targeted and immuno-oncology therapies. BeOne Medicines currently employs more than 3,300 people across mainland China, the United States, Australia, and Switzerland. Its pipeline includes novel oral small-molecule anticancer drugs and monoclonal antibody-based anticancer agents. BeOne Medicines is also building combination regimens for cancer treatment, aiming to make a sustained and profound impact on the lives of patients with cancer. In the United States, BeOne Medicines markets its internally developed BTK inhibitor BRUKINSA™ (zanubrutinib); in China, its anti-PD-1 antibody drug Baizean^®(Tislelizumab) has received marketing approval. Under authorization from Celgene Logistics LLC (a subsidiary of Bristol-Myers Squibb Company), BeOne Medicines sells ABRAXANE in China.^®Paclitaxel for Injection (Albumin-Bound), Revlimid^®(Lenalidomide) and Vidaza^®(Azacitidine for Injection); Under license from Amgen, BeOne Medicines plans to market XGEVA in China^®（XGEVA^®) Denosumab Injection.^[1],[2]

BeOne Medicines Forward-Looking Statements

This press release contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including BeOne Medicines’ statements regarding Amgen^®（XGEVA ^®）、KYPROLIS ^®、 BLINCYTO ^®as well as the related development plans for Amgen’s oncology pipeline drugs, potential commercialization, the responsibilities of both parties, and the potential benefits of the collaboration. Due to the influence of various important factors, actual results may differ materially from forward-looking statements. These factors include risks related to: BeOne Medicines’ ability to demonstrate the efficacy and safety of its drug candidates; clinical results of drug candidates that may not support further development or regulatory approval; regulatory actions that may affect the initiation, timeline, and progress of clinical trials as well as product marketing approvals; BeOne Medicines’ ability to achieve commercial success for its marketed products and drug candidates (if approved); BeOne Medicines’ ability to obtain and maintain protection for its technology and drug intellectual property rights; BeOne Medicines’ reliance on third parties for drug development, manufacturing, and other services; BeOne Medicines’ limited operating history and its ability to secure additional working capital to complete the development and commercialization of its drug candidates; and various risks more fully discussed in the “Risk Factors” section of BeOne Medicines’ recent Quarterly Report on Form 10-Q; as well as discussions in BeOne Medicines’ subsequent filings with the U.S. Securities and Exchange Commission regarding potential risks, uncertainties, and other important factors. All information in this press release is current only as of the date of its release, and BeOne Medicines has no obligation to update such information unless required by law.

[1] ABRAXANE® is a registered trademark of Abraxis BioScience, LLC (a Bristol Myers Squibb company); REVLIMID® and VIDAZA® are registered trademarks of Celgene Corporation (a Bristol Myers Squibb company).

[2] XGEVA® is a registered trademark of Amgen.