Putting cash to work, BeiGene taps Assembly’s HBV program for first non-oncology deal

A week after adding billions of dollars to its already-deep cash reserves, BeiGene has expanded its pipeline beyond oncology through a deal with Assembly that gives it territorial rights to three clinical HBV programs.

Assembly Biosciences Inc. (NASDAQ:ASMB) granted BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160) rights in mainland China, Hong Kong, Macau and Taiwan in exchange for $40 million up front. Assembly is eligible to receive another $114 million in development and regulatory milestones, $385 million in commercial milestones, and royalties from the mid-teens to the low 30s...