BeiGene Plans To Build New Mfg, Clinical R&D Center in New JerseyBy
BeiGene, a Beijing-based bio/pharmaceutical company, has entered into a purchase agreement to acquire an approximately 42-acre site to build a new campus for R&D and manufacturing in Hopewell, New Jersey.
The 42-acre site provides over one million square feet of developable real estate for BeiGene to build a facility to house a commercial-stage biologic pharmaceutical manufacturing, clinical R&D, and the BeiGene Center for Pharmacovigilance Innovation. The site is expected to initially produce biologics and potentially small-molecule cancer treatments.
Development of the planned campus is subject to closing of the purchase agreement and approval of the development plan. BeiGene entered into the purchase and sale agreement with Lincoln Equities Group. Closing is expected in the third quarter of 2021, subject to completion of due diligence and satisfaction of customary closing conditions. The development plan for the site is also subject to approval by the Hopewell Township Planning Board. If all proceeds, construction is expected to be completed in mid-2023.
BeiGene, which is partnered with several large bio/pharmaceutical companies, including Amgen and Novartis, has manufacturing operations in Suzhou and Guangzhou, China, respectively for small-molecule drugs and biologics.
In 2020, BeiGene formed two deals with Amgen for $3.2-billion. In January 2020, Amgen formed a global strategic oncology collaboration with BeiGene and took an equity stake in the company for $2.8 billion for the commercialization and development in China of three Amgen oncology drugs: Xgeva (denosumab) for treating giant cell tumors of the bone; Kyprolis (carfilzomib) for treating multiple myeloma; and Blincyto (blinatumomab) for treating relapsed or refractory acute lymphoblastic leukemia. The companies also agreed to collaborate for the joint global development of 20 oncology assets in Amgen’s pipeline with BeiGene responsible for development and commercialization in China. In July 2020, Amgen made an additional investment of $421 million in BeiGene.
Earlier this year (March 2021), BeiGene and Novartis closed on a $2.2-billion licensing agreement and collaboration for tislelizumab, an oncology drug in major markets outside of China.