BeiGene Ltd., a Cayman Islands exempted oncology company focused on developing targeted and immuno-oncology therapeutics, completed a $US97m financing.
The round was co-led by Hillhouse Capital and an undisclosed blue chip U.S. public investment fund specializing in life sciences with participation from existing investors CITICPE and new investors Fidelity Management & Research Company, T. Rowe Price & Associates, Rock Springs Capital Management, and Boxer Capital of Tavistock Life Sciences.
The company intends to use the funds for the continued development of its oncology drug candidates, to expand its global clinical development team and capabilities, and to strengthen its drug product manufacturing and CMC capabilities.
Led by John V. Oyler, CEO, BeiGene is currently investigating three small molecule inhibitors in Phase 1 clinical development:
– BGB-3111, an investigational, oral selective and inhibitor of Bruton tyrosine kinase (BTK);
– BGB-283, a second-generation B-RAF inhibitor; and
– BGB-290, a poly (ADP-ribose) polymerase (PARP) inhibitor.
The company is also pursuing additional preclinical programs, including BGB-108, a potent and potentially differentiated PD-1 monoclonal antibody candidate which is expected to enter the clinic in 2015.