BeiGene, Strand Therapeutics to co-develop mRNA-based cancer therapies

BeiGene Ltd. has entered into an option and license agreement with Strand Therapeutics Inc. to develop mRNA treatments for solid tumors.

The companies will develop immuno-oncology programs using Strand's intratumoral or systemic delivery mechanism, which is designed to deliver a tumor microenvironment-modifying mRNA directly to the tumor site. BeiGene has secured an option and exclusive license to develop and commercialize up to two such programs in Asia except Japan, as well as in Australia and New Zealand.

Strand will receive an upfront cash payment of $5 million as well as up to an additional $28 million in near-term payments and up to $277 million in other milestone payments, in addition to tiered royalties on any product sales in the licensed areas. Strand noted that as part of the deal, it received investments of $10 million, including $5 million from BeiGene.