The global oncology company BeiGene, which has a clinical R&D and manufacturing facility at the Princeton West Innovation Campus in Hopewell, announced this week it intends to change its name to BeOne Medicines Ltd.
The move reflects the company’s continuing commitment to develop innovative medicines to eliminate cancer by partnering with the global community to serve as many patients as possible, the company said in a statement issued on Thursday. Once the name is approved by shareholders, the company’s stock ticker on Nasdaq will change to ONC.
“Cancer, a leading cause of death worldwide, exacts an immense toll on individuals, families, and communities. Our focus is to not only bring innovative medicines to as many people as possible, but also to identify and address the challenges that impede access, making treatments more accessible and affordable,” said John V. Oyler, co-founder, chairman and CEO at BeiGene.
“We have already helped more than 1.4 million patients, and with one of the most prolific oncology pipelines, this year we will bring more than 10 new potential medicines into the clinic,” he said. “I look forward to our next chapter of growth as BeOne.”
The new name is part of a broader strategic growth plan that has enabled the company’s global oncology leadership since its inception in 2010. The company recently reported $1 billion in quarterly total revenue driven by strong growth in product revenue in the U.S. and Europe.
To support its expansive clinical portfolio and global growth, the company opened its $800 million flagship clinical R&D and manufacturing facility at the Princeton West Innovation Campus in Hopewell in July.
The company’s nearly 11,000 employees have advanced more than 20 molecules into the clinic and secured regulatory approvals across five continents, and its unique global clinical team conducts clinical trials across Europe, North and South America, Australia, and Asia in more than 45 countries. Its portfolio strategy emphasizes rapid generation of early-stage clinical proof-of-concept data.
BeGene has solidified its leadership in hematology with BRUKINSA (zanubrutinib), which has the broadest label of any BTK inhibitor and, in the U.S., is the leader in new patient starts in both frontline and relapsed/refractory chronic lymphocytic leukemia in addition to all other approved B-cell malignancies.
The company is advancing this therapy, which is approved in more than 70 markets, as the cornerstone of its hematology franchise as a monotherapy and as a backbone for potential best-in-class combinations with late-stage BCL2 inhibitor sonrotoclax and BTK degrader BGB-16673.
In addition, the company is focused on growing its leadership in solid tumors with its PD-1 inhibitor TEVIMBRA (tislelizumab) and by advancing potential best-in-class assets for breast, lung and gastrointestinal cancers across several modalities, including antibody drug conjugates, multi-specific antibodies, targeted protein degraders, and small molecule inhibitors.
