UPDATE 1-BeiGene to buy global rights to Ensem's experimental cancer therapy
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Nov 21 (Reuters) - BeiGene said on Tuesday it would buy the global license for a cancer therapy that is ready to enter early-stage trial from U.S.-based biotech company Ensem Therapeutics.
The Hong Kong-listed company will work with Ensem to bring the therapy, which works by blocking the enzyme, cyclin-dependent kinase 2, involved in cell growth, to trials.
The therapy complements BeiGene's early-stage breast cancer portfolio, the company said.
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 under the deal, in addition to tiered royalties.
In September, BeiGene decided to go solo with its cancer drug tislelizumab or Tevimbra after a deal termination with Swiss drugmaker Novartis. (Reporting by Sriparna Roy in Bengaluru; Editing by Pooja Desai and Sriraj Kalluvila)
