BeiGene (NASDAQ:BGNE) inks an agreement with Assembly Biosciences (NASDAQ:ASMB) securing exclusive development and commercialization rights in Greater China (Mainland, Macau, Taiwan, Hong Kong) for ABI-H0731, ABI-H2158 and ABI-H3733, three clinical-stage core inhibitor candidates for the treatment of hepatitis B virus (HBV) infection.
Under the terms of the deal, BGNE will pay ASMB $40M upfront, up to ~$500M in milestones and tiered royalties on net sales. BGNE will contribute initial funding for clinical development in China after which costs will be equally shared.
The upfront cash extends ASMB’s runway into H2 2022.
ASMB will host a conference call this morning at 8:30 am ET to discuss the agreement.
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