09 March 2017 | News | By BioSpectrum Bureau
BeiGene to build $330 mn biologics plant in China
Singapore: BeiGene, a Chinese biotech firm has joined hands with Guangzhou GET Technology Development, an affiliate of Guangzhou Development District, to build a commercial-scale biologics manufacturing facility in Guangzhou, Guangdong Province. The development deal sees Guangzhou GET contribute $150 million in cash while BeiGene will provide $30 million, the rest of the $150 million will be provided through commercial loans.
The joint venture, BeiGene Biologics, will finance the research and development of biologic drug candidates in China. As part of the manufacturing facility, the site will also help to support BeiGene's R&D activities to help bring biologic drugs through to clinical development and the Chinese market. The building of the site is expected to begin this year.
With prime attention to oncology, BeiGEne has seen a fast growth and has established a staff of over 200 working on four cancer therapies. The biotech's lead drug is a BTK inhibitor, which is now in the clinic, as well as a PD-1 inhibitor and a BRAF inhibitor. It also has a PARP inhibitor under development and is expected to compete with AstraZeneca's Lynparza and other drugmakers that have PARP's in late-stage development such as Tesaro and Pfizer's Medivation.
"It is our strategic priority to secure high-quality large-scale manufacturing capacity based on the increasing biologics opportunity we envision in China and global markets," Mr John Oyler, BeiGene's co-founder, said.
The Administrative Committee of Guangzhou Municipal Government and Guangzhou Development District said they believe that BeiGene Biologics will transform GDD into a hub for biopharma innovation. They further assured that BeiGene will receive the government's strong support, particularly in terms of funding, management service, and creation of a good business environment.
"We attach great importance to this project and believe that the successful introduction of BeiGene Biologics will transform Guangzhou Development District into a centre for the innovative biopharmaceutical industry, promote the development of the biotechnology industry in the region, and provide a powerful driving force for economic transformation and upgrade. The government will provide strong support in funding, management service, and creating a good business environment," commented the Administrative Committee of Guangzhou Municipal Government and Guangzhou Development District.