BeiGene agrees to acquire Ensem Therapeutics’ cancer therapy

(Reuters) – BeiGene said on Tuesday it has entered into an agreement with biotech company Ensem Therapeutics to acquire a global license for a cancer therapy that is ready to enter early-stage trial.

Under the terms of the deal, Ensem will receive an upfront payment and will be eligible for additional payments totaling up to $1.33 billion on the achievement of certain milestones, in addition to tiered royalties.

(Reporting by Sriparna Roy in Bengaluru; Editing by Pooja Desai)