BeiGene and DualityBio Announce Partnership to Advance Differentiated Antibody Drug Conjugate (ADC) Therapy for Solid Tumors
July 10 2023 - 7:00AM
Business Wire
BeiGene acquires exclusive option for global
license to investigational antibody drug conjugate; DualityBio to
continue preclinical research activities and support
Investigational New Drug filing
BeiGene (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global
biotechnology company, and DualityBio, a next-generation ADC
company, today announced an agreement for BeiGene to acquire an
exclusive option for a global clinical and commercial license to an
investigational, preclinical ADC therapy for patients with select
solid tumors.
“With one of the industry’s leading global oncology research
teams, we are investing in highly impactful therapeutic modalities
such as ADCs that complement our dynamic and growing pipeline in
solid tumors,” said Lai Wang, Ph.D., Global Head of R&D at
BeiGene. “Through this strategic partnership with DualityBio, we
are well positioned to advance this asset globally alongside our
initial internally discovered ADC assets with our end-to-end ADC
manufacturing capabilities.”
“Duality is dedicated to becoming a leading next-generation ADC
company, and the assets built upon our DITAC platform show
encouraging efficacy and safety in preclinical as well as global
clinical studies,” said John Zhu, Ph.D., CEO at DualityBio. “We are
excited to partner with BeiGene to accelerate the development of
this asset. In combining the strengths of BeiGene and Duality, we
believe more breakthrough ADC medicines will be brought to patients
worldwide.”
Under the terms of the agreement, DualityBio will receive an
upfront payment, and will be eligible for a payment contingent upon
BeiGene exercising its option and additional payments based upon
the achievement of certain development, regulatory, and commercial
milestones, totaling up to $1.3 billion, in addition to tiered
royalties. Upon exercising its option, BeiGene will hold global
clinical, manufacturing, and commercial rights while DualityBio
will perform all research activities through IND-enabling studies
and support future IND filings by BeiGene.
About DualityBio
DualityBio is a clinical-stage company focusing on the discovery
and development of the next generation ADC therapeutics for
patients with cancer and autoimmune diseases. DualityBio has
successfully established a number of next-generation ADC technology
platforms with global intellectual property rights. Building upon
deep understanding of disease biology and translational capability,
DualityBio has advanced four assets into global clinical studies,
and developed more than 10 innovative product candidates that are
currently in preclinical stage. Additionally, DualityBio is
continuing to evolve its novel protein engineering and ADC
technology platforms for the next wave of “super ADC” molecules
including diverse payload classes, bispecific ADCs and dual-payload
ADCs. To learn more about DualityBio, please visit
www.dualitybiologics.com.
About BeiGene
BeiGene is a global biotechnology company that is discovering
and developing innovative oncology treatments that are more
affordable and accessible to cancer patients worldwide. With a
broad portfolio, we are expediting development of our diverse
pipeline of novel therapeutics through our internal capabilities
and collaborations. We are committed to radically improving access
to medicines for far more patients who need them. Our growing
global team of more than 9,400 colleagues spans five continents,
with administrative offices in Beijing, China; Cambridge, U.S.; and
Basel, Switzerland. To learn more about BeiGene, please visit
www.beigene.com and follow us on Twitter at @BeiGeneGlobal.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws, including statements regarding
future payments under the terms of this agreement, future IND
filings for the asset, future clinical, manufacturing or commercial
activities within the scope of the agreement, and BeiGene’s plans,
commitments, aspirations, and goals under the heading “About
BeiGene.” Actual results may differ materially from those indicated
in the forward-looking statements as a result of various important
factors, including BeiGene's ability to demonstrate the efficacy
and safety of its drug candidates; the clinical results for its
drug candidates, which may not support further development or
marketing approval; actions of regulatory agencies, which may
affect the initiation, timing and progress of clinical trials and
marketing approval; BeiGene's ability to achieve commercial success
for its marketed medicines and drug candidates, if approved;
BeiGene's ability to obtain and maintain protection of intellectual
property for its medicines and technology; BeiGene's reliance on
third parties to conduct drug development, manufacturing, and other
services; BeiGene’s limited experience in obtaining regulatory
approvals and commercializing pharmaceutical products and its
ability to obtain additional funding for operations and to complete
the development and commercialization of its drug candidates and
achieve and maintain profitability; and the impact of the COVID-19
pandemic on BeiGene’s clinical development, regulatory, commercial,
manufacturing, and other operations, as well as those risks more
fully discussed in the section entitled “Risk Factors” in BeiGene’s
most recent quarterly report on Form 10-Q, as well as discussions
of potential risks, uncertainties, and other important factors in
BeiGene's subsequent filings with the U.S. Securities and Exchange
Commission. All information in this press release is as of the date
of this press release, and BeiGene undertakes no duty to update
such information unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230710061783/en/
Investor Contact Liza Heapes +1 857 302-5663 Ir@beigene.com
Gabrielle Zhou +1 908 306-9922 Ir@beigene.com
Media Contact Kyle Blankenship +1 667 351-5176
media@beigene.commedia
DualityBio Contact Business Development
bd@dualitybiologics.com
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