The Life Sciences team advised BeiGene, Ltd. in its follow-on public offering of 7,920,800 of its American Depositary Shares (the “ADSs”) at the public offering price of $101.00 per ADS, totaling approximately $800 million in gross proceeds. This includes the full exercise of the underwriters’ option to purchase an additional 495,050 ADSs. The ADSs priced on January 17, 2018 and are trading on the NASDAQ Global Select Market under the ticker “BGNE.” Each ADS represents 13 of BeiGene’s ordinary shares, par value $0.0001 per share.
Based in Beijing, China, BeiGene is a commercial-stage biopharmaceutical company rooted in China that is dedicated to becoming a global leader in the discovery, development and commercialization of innovative, molecularly targeted and immuno-oncology drugs for the treatment of cancer. BeiGene has over 40 clinical trials ongoing or planned for its three internally-developed late-stage clinical drug candidates:
- Zanubrutinib (BGB-311), an investigational small molecule inhibitor of Bruton’s tyrosine kinase (BTK) that is currently being evaluated in a broad registrational clinical program globally and in China to treat various lymphomas;
- Tislelizumab (BGB-A317), a humanized monoclonal antibody against the immune checkpoint receptor PD-1 that is currently being evaluated in a broad registrational clinical program globally and in China to treat various solid and hematological cancers; and
- Pamiparib (BGB-290), an investigational small molecule inhibitor of PARP1 and PARP2 that is being evaluated as a potential monotherapy and in combination to treat various solid tumors. It is currently in a pivotal clinical trial in China and is expected to enter late-stage development in 2018.
Goldman Sachs & Co. LLC; Morgan Stanley & Co. LLC; Cowen and Company, LLC; and Leerink Partners LLC acted as joint book-running managers, and William Blair & Company, L.L.C. acted as co-manager.
The Goodwin team was led by partners Mitch Bloom and Edwin O’Connor and included partner Duncan Greenhalgh, counsel Stephanie Philbin and associates Riley Lovendale, Kristin Eberhart, and Olivia Uitto.
For more information on the offering, please read the press release.