BeiGene, Shoreline Biosciences Ink Development Pact For NK Cell Therapies In Cancer - BeiGene (NASDAQ:BGNE)

Shoreline Biosciences Inc and BeiGene Ltd BGNE have announced an exclusive worldwide strategic collaboration to develop and commercialize a portfolio of NK-based cell therapeutics with Shoreline's iPSC NK cell technology for different malignancies.
Under the terms of the agreement, Shoreline will receive an upfront cash payment of $45 million and will be eligible to receive additional R&D funding, milestone payments.
In the multi-target collaboration, the companies will develop cell therapies for four designated therapeutic targets, with an option to expand.
Clinical development will be led by BeiGene globally, with Shoreline responsible for clinical manufacturing.
BeiGene will have commercial rights globally, with Shoreline having an option to retain U.S. and Canadian commercialization rights for two targets.
BeiGene also has an option to acquire an equity stake in Shoreline.
Price Action: BGNE shares closed at $348 on Tuesday.