Sarah de Crescenzo writing for Xconomy reports China-based Beigene has structured another pharma deal. The San Diego biotech has already structured deals with Bristol-Myers Squibb, Astellas and Elan; now they have entered into up to a $10 million upfront experiment with technology the company has developed in a bid to accelerate BeniGene’s search for new protein drugs for cancer.
According to Ms. de Crescenzo, Ambrx reports its technology is able to incorporate “non-natural” amino acids into cells like E.coli and CHO, two cell lines commonly used for protein drugs for cancer treatment. See their website. BeiGene (NASDAQ: BGNE) was founded in 2010 and has raised approximately $2billion.