OR WAIT null SECS
BeiGene and the Guangzhou Development District have established a joint venture to build a biologics manufacturing facility in China.
On March 7, 2017, BeiGene Co., Ltd., Guangzhou Development District (GDD), and its affiliate Guangzhou GET Technology Development Co., Ltd entered into a definitive agreement to establish a commercial-scale biologics manufacturing facility in Guangzhou, Guangdong Province, China. BeiGene Biologics will provide funding for research and development of biologic drug candidates in China. The companies said total direct investments are expected to be RMB2.2 billion ($330 million).
“It is our strategic priority to secure high-quality large-scale manufacturing capacity based on the increasing biologics opportunity we envision in China and global markets. We believe the joint venture will provide a valuable asset for our long-term growth,” commented John V. Oyler, co-founder, CEO, and Chairman of the Board of BeiGene in a statement.
BeiGene is a global, clinical-stage research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. The company has a team of more than 300 scientists, clinicians, and staff in mainland China, the United States, Australia, and Taiwan. GDD is one of the first 14 national economic and technological development zones approved by the State Council in China in 1984. GDD mainly focuses on the development of R&D services, life and health science, inspection, and other knowledge-intensive industries.