BeiGene and Biocytogen in licensing pact for antibody therapies

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• China-based biotechs, BeiGene (NASDAQ:BGNE) and Biocytogen Pharmaceuticals have reached an agreement for licensing Biocytogen's fully human antibody RenMab/RenLite mice platforms, the companies announced on Monday.
• Per the terms, the partners will leverage the potential of RenMab/RenLite to develop fully human monoclonal antibodies, bispecific antibodies, and other types of antibody drugs.
• "As one of the leading fully human antibody discovery platforms, Biocytogen's RenMab™/RenLite™ mice will provide strong support in drug development for challenging targets,” said Dr. Yuelei Shen, the Chief Executive of Biocytogen.
• The financial terms of the transaction were not disclosed.
• Beijing headquartered, BeiGene (BGNE) offers three approved medications: BTK inhibitor BRUKINSA, anti-PD-1 antibody tislelizumab, and PARP inhibitor pamiparib.
• The company recorded ~$1.2 million in revenue in 2021, indicating over a three-fold rise from the prior year.