BeiGene (Beijing), Co., Ltd., an innovative oncology company focused on developing targeted and immune-oncology therapeutics, today announced the achievement of a clinical milestone in the company's collaboration with Merck Serono, the biopharmaceutical division of Merck, Darmstadt, Germany, for BGB-283, a second-generation BRAF inhibitor candidate currently in Phase 1 development. The milestone triggers a US$ 5 million payment from Merck to BeiGene.
"We are very pleased to successfully reach this development milestone for BGB-283, as this exciting oncology candidate demonstrates the potential of BeiGene's innovative translational research platform to deliver targeted therapeutics that address the unmet need of cancer patients," said John V. Oyler, CEO of BeiGene. "We look forward to working with Merck Serono as it continues to progress through the clinic."
In December 2013, BeiGene announced the enrollment of the first patient in a Phase 1 study of BGB-283 in patients with BRAF or KRAS mutations. BGB-283 is an investigational, oral, selective, potent-second generation inhibitor of BRAF, making it a targeted therapeutic candidate to potentially treat and bring benefit to patients with cancers that harbor BRAF mutations and/or aberrations in the RAS-MAPK (mitogen-activated protein kinase) pathway.
BGB-283 is part of BeiGene's two-asset strategic collaboration with Merck that was established in 2013.