Celgene Endorsement Sees Beigene Come Of Age

7/7/17

Beigene (NASDAQ:BGNE), a group that has had a consistent if low-key presence at recent oncology conferences, looks finally to have come of age. In licensing its anti-PD-1 MAb BGB-A317 to Celgene (NASDAQ:CELG) it has struck by far the most lucrative asset deal in up-front terms for any Chinese biotech (see table).

Celgene clearly realizes that it needs to be in the checkpoint inhibitor game, though investors might well wonder whether it has come to the party too late. At least the deal's solid tumor focus reflects the lack of promise PD-1 inhibition has in hematology - as Merck & Co (NYSE:MRK) neatly demonstrated yesterday.

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