July 6, 2017 / 1:06 AM / 22 days ago

BRIEF-Celgene enters collaboration with BeiGene to advance inhibitor program for solid tumor cancers

2 Min Read

July 5 (Reuters) - Celgene Corp

* Celgene Corporation enters into global strategic immuno-oncology collaboration with BeiGene to advance PD-1 inhibitor program for solid tumor cancers

* Celgene Corp says BeiGene to receive $263 million in upfront license fees and $150 million equity investment

* Celgene Corp says BeiGene to acquire Celgene's commercial operations in China and exclusive license to Celgene's China cancer commercial portfolio

* Celgene Corp says BeiGene retains right to develop BGB-A317 in hematology and in combination with its other portfolio compounds

* Celgene Corp says Celgene will maintain a strategic and research and development presence in China dedicated to long-term commercial activities

* Celgene Corp says BeiGene is eligible to receive up to $980 million in development, regulatory and sales milestone payments and royalties on future sales of BGB-A317

* Celgene will acquire equity stake in BeiGene by purchasing 5.9 percent of BeiGene's ordinary shares at $4.58 per share Source text for Eikon: Further company coverage:

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