Ambrx, a San Diego biopharma owned by four China investors, struck a deal worth up to $475 million with Beijing's BeiGene. In exchange for a $10 million upfront payment, Ambrx will use its Expanded Genetic Code technology platforms to discover next-gen protein drug candidates for BeiGene. For another $19 million, BeiGene can add additional targets. The agreement includes $446 million in milestones, plus it also requires BeiGene to pay royalties on revenues. In 2015, Ambrx was acquired by Fosun Pharma and WuXi AppTec, plus China equity investors HOPU and Everbright. More details....
Stock Symbols: (NSDQ: BGNE; HK: 06160)
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Original Article: Ambrx and BeiGene Form $475 Million Protein Drug Discovery Partnership