BeiGene and Guangzhou Development District created a new joint venture BeiGene Biologics for $330m

BeiGene, Ltd. and Guangzhou Development District announced that BeiGene Co., Ltd., a wholly owned subsidiary of BeiGene, Ltd. and GDD and its affiliate Guangzhou GET Technology Development Co., Ltd have entered into a definitive agreement to establish a state-of-the-art commercial-scale biologics manufacturing facility in Guangzhou, Guangdong Province, China. The joint venture, BeiGene Biologics Co., Ltd., will also provide funding for research and development of biologic drug candidates in China. Total direct investments are expected to be RMB2.2bn ($330m).