Merck Serono, the biopharmaceutical  division of Merck, today announced that a global licensing, co-development, and commercialization agreement for BeiGene-290 has been signed with BeiGene Co.,  Ltd., a biotech research and development company in Beijing, China. The compound,  which is a potent poly (ADP-ribose) polymerase (PARP) inhibitor for the treatment of  cancer, is currently in preclinical development and is expected to enter clinical  development next year. This is the second collaboration agreement between the two companies this year. 

Under the terms of the collaboration, BeiGene will be responsible for the development and commercialization of BeiGene-290 in China, and Merck will be responsible for the development and commercialization of BeiGene-290 for the rest of the world. BeiGene will receive an undisclosed upfront payment and is eligible to receive further payments of up to € 170 million (US$ 232 million) for the achievement of clinical development.