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Celgene signs deal with BeiGene for tumor cancer treatment

(Adds details, analysts' comments, shares)

July 6 (Reuters) - Celgene Corp said it would buy a stake in BeiGene Ltd to help develop and commercialize the China-based cancer immunotherapy developer's treatment for solid tumor cancers, expanding its position in the field of immuno-oncology.

BeiGene's shares rose as much as 31.4 percent to an all-time high of .67 in afternoon trading on Thursday. Celgene's shares were marginally down.

The deal announced on Wednesday will complement Celgene's partnership with AstraZeneca Plc to develop durvalumab as a treatment for hematological malignancies and expand the drug developer's presence in China's untapped cancer market.

BeiGene's advanced tumor cancer therapy, BGB-A317, is a type of antibody that belongs to a new class of drugs called...


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