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Assembly Biosciences Signs Deal With BeiGene for Hep B Inhibitor
Provided by Dow Jones
Jul 21, 2020 2:52 AM GMT+10
By Chris Wack
Assembly Biosciences Inc. shares were up 7% to $26.01 after it entered into a collaboration with BeiGene Ltd. in China for Assembly's portfolio of three clinical-stage core inhibitor candidates for the treatment of patients with chronic hepatitis B virus infection.
Under the terms of the agreement, Assembly has granted BeiGene exclusive rights to develop and commercialize ABI-H0731, ABI-H2158 and ABI-H3733 in China, including Hong Kong, Macau, and Taiwan.
ABI-H0731 and ABI-H2158 are both in ongoing Phase 2 clinical trials and ABI-H3733 is in Phase 1 development. BeiGene will be responsible for development, regulatory submissions, and commercialization in China. Assembly retains full worldwide rights outside of the partnered territory for the company's HBV portfolio.
Assembly said it will receive an upfront cash payment of $40 million and is eligible to receive up to $500 million in potential development, regulatory and sales milestone payments pending successful development and commercialization of the licensed candidates. Assembly is also eligible to receive tiered royalties of sales. BeiGene will contribute initial funding for clinical development in China, after which the development costs for the territory will be shared equally by the parties.
Assembly currently projects its $249 million in cash at March 31, together with these additional near-term sources of funding, will extend its funding of operations into the second half of 2022.
BeiGene shares were up 2% to $252.83.
Write to Chris Wack at [email protected] |
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发表于 2020-7-21 11:30
