05:54 AM EST, 12/13/2024 (MT Newswires) -- BeiGene ( BGNE ) said late Thursday it has signed a global licensing agreement with CSPC Zhongqi Pharmaceutical Technology for its experimental cancer therapy, SYH2039.

Under the terms of the deal, the company said it has an exclusive worldwide license to develop, manufacture and commercialize SYH2039.

CSPC will receive $150 million in upfront, time-based payments, potential milestone payments and tiered royalties.

The company said its experimental drug, BGB-58067, is expected to enter clinical trials by the end of the year and aims to avoid the hematological toxicity associated with first-generation PRMT5 inhibitors.