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BeiGene Raises $2 Billion in Private Placement; Amgen Participates

publication date: Jul 13, 2020

BeiGene, a Beijing oncology drug biopharma, announced a $2.08 billion private placement that will bring its cash holdings to almost $5.5 billion. The company is developing a portfolio of 25 candidates, with several of them in (or soon-to-start) Phase III tests. Last year, Amgen paid BeiGene $2.7 billion for a 20% stake in the company, and it contributed $421 million to the private placement, keeping its stake at 20.3%. BeiGene will develop a portfolio of Amgen cancer drugs in China. More details....

Stock Symbols: (NSDQ: BGNE; HK: 06160) (NSDQ: AMGN)

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