BeiGene : Strand Therapeutics, BeiGene in License Deal for Strand's Tumor Treatments

By Michael Dabaie

Strand Therapeutics and BeiGene Ltd. said they have entered an option-and-license agreement for Strand's treatments for solid tumors.

BeiGene has an option to an exclusive license to develop and commercialize in Asia--excluding Japan--Australia and New Zealand up to two immuno-oncology programs using Strand's intratumoral or systemic delivery mechanism, the companies said Monday.

Strand will receive an upfront cash payment of $5 million and can get additional near-term payments totaling up to $28 million, the companies said.

Strand is eligible for payments from BeiGene based on development, regulatory, and sales milestones for a total deal value of up to $277 million, they said. Strand also received investments of $10 million, including $5 million from BeiGene.

Write to Michael Dabaie at [e-mail]

(END) Dow Jones Newswires

01-11-21 0810ET