By Michael Dabaie

BeiGene Ltd. (BGNE) said it agreed with Celgene Corp. (CELG) to terminate the parties' global collaboration for tislelizumab in advance of the pending acquisition of Celgene by Bristol-Myers Squibb (BMY).

Commercial-stage biopharmaceutical company BeiGene said Celgene agreed to pay it $150 million. Tislelizumab is BeiGene's investigational anti-PD-1 antibody

Tislelizumab has been dosed in over 2,950 patients globally. With two new drug applications under review in China, BeiGene said it expects tislelizumab to receive its first regulatory approval later this year.

"Our collaboration with Celgene was instrumental for the late-stage clinical development of tislelizumab and has provided us with significant resources to continue our broad clinical program," said Chief Executive John V. Oyler.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

June 17, 2019 07:58 ET (11:58 GMT)

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