BeiGene Raises $75 Million to Develop Oncology Drugs in China

BeiGene, a novel drug development company located in Beijing, raised $75 million in a series A funding. BeiGene has three oncology drug candidates in Phase I testing, and it has sold ex-China rights for two of them to Merck Serono in deals that are worth as much as $232 million each. In addition, it secured a large, though undisclosed, investment from the US pharma Merck in 2011. The current A round funding includes BeiGene's initial angel and strategic investors along with new investors Hillhouse Capital and CITIC Capital Partners, and an undisclosed blue chip US public investment fund specializing in life sciences. More details.... Stock Symbol: (NYSE: MRK) Share this with colleagues: // //