BeiGene raises RMB450 million

BeiGene Co. Ltd. (Beijing, China) raised a RMB450 million ($73.6 million) in a series A round. New investors Hillhouse Capital; CITIC Capital Partners; and an undisclosed public investment fund specializing in life sciences participated alongside undisclosed existing angel and strategic investors.

The company has three oncology candidates in the clinic. It started a Phase I trial of small molecule BRAF inhibitor BGB-283 in December 2013. It began a Phase I study of BGB-290, a Poly(ADP-ribose) polymerase (PARP) inhibitor, in July. Finally, it began a Phase I trial in September of BGB-3111, a selective oral Bruton's tyrosine kinase inhibitor, with data expected in late 2015 or early 2016. BeiGene granted the Merck Serono S.A. unit of Merck KGaA (Xetra:MRK) exclusive, ex-Chinese rights to BGB-290 and BGB-283 in separate 2013 deals (see BioCentury Extra, Nov. 13, 2013). ...