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Celgene signs deal with BeiGene for tumor cancer treatment

Celgene Corp (CELG.O) said it would buy a stake in BeiGene Ltd (BGNE.O) 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 (AZN.L) 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 PD-1 or PD-L1 inhibitors that...


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