BeOne Medicines
BeOne Medicines is a multinational biopharmaceutical company focused on discovering, developing, manufacturing, and commercializing oncology medicines.
Last updated October 21, 2026
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Overview
BeOne Medicines, formerly known as BeiGene, is a multinational biopharmaceutical company focused primarily on cancer treatment. Founded in 2010 by entrepreneur John V. Oyler and biochemist Xiaodong Wang, the company was established with the aim of creating a globally oriented oncology business with substantial research and commercial capabilities in China. Its activities now extend across North America, Europe, Asia-Pacific, Australia, and other markets, with operations and clinical-trial activity spanning more than 45 countries. The company’s early model combined internal drug discovery with licensing and development of experimental medicines that had been set aside by larger pharmaceutical companies. BeOne used Chinese universities, hospitals, and research institutions to conduct early clinical work, with successful programs potentially being co-developed or commercialized with international pharmaceutical partners that could provide late-stage development resources. This approach helped the company build a pipeline while developing its own clinical, regulatory, manufacturing, and commercial infrastructure. BeOne’s best-known medicines are Brukinsa, the brand name for zanubrutinib, and Tevimbra, the brand name for tislelizumab. Brukinsa is a small-molecule Bruton's tyrosine kinase inhibitor used in several B-cell malignancies, including mantle cell lymphoma, Waldenström’s macroglobulinemia, chronic lymphocytic leukemia, and small lymphocytic lymphoma. The molecule was created by BeOne scientists in Beijing and became, in 2019, the first cancer drug developed in China to receive approval from the United States Food and Drug Administration. Subsequent approvals and clinical results expanded its role in hematological oncology, while comparative studies established a significant positioning claim against competing BTK inhibitors in certain settings. Tevimbra is a humanized anti-PD-1 monoclonal antibody designed to stimulate an immune response against tumors while limiting binding to Fc-gamma receptors on macrophages. It was first approved in China in 2019 for classical Hodgkin lymphoma and has since been developed for multiple solid tumors. Regulatory approvals in the United States and European Union have included combinations with chemotherapy for specified gastric, gastroesophageal-junction, and esophageal cancers. The company has continued to expand the drug’s development program through multinational clinical studies involving approximately 14,000 patients in 35 countries. The company’s growth has been supported by a series of financings and strategic partnerships. It completed a Nasdaq initial public offering in 2016, followed by a major U.S. offering in 2018 and a secondary listing in Hong Kong later that year. Partnerships with Celgene, Amgen, Novartis, and other companies gave BeOne access to commercial rights, development programs, capital, and international expertise. In 2019, Amgen acquired a substantial minority interest and obtained a board seat, while BeOne received rights to commercialize several Amgen products in China and assumed research commitments. On 14 November 2024, the company announced that it would rebrand from BeiGene to BeOne Medicines. The new identity emphasizes a global oncology platform rather than a China-centered corporate image. The company changed its stock ticker to ONC in January 2025 and redomiciled to Basel, Switzerland, in May 2025. Its business remains centered on oncology research and medicines, with a growing emphasis on global commercialization, clinical development, manufacturing capacity, and access to innovative cancer treatments. The company has also developed significant research operations in Australia and a European hub in Basel.
History
BeOne Medicines was founded in late 2010 as BeiGene by John V. Oyler and Xiaodong Wang. Oyler, an American entrepreneur, supplied part of the early seed capital, while Wang brought experience in biochemistry and academic cancer research. Wang had been a Howard Hughes Medical Investigator at the University of Texas Southwestern Medical Center and served as director of the National Institute of Biological Sciences in Beijing. The founders sought to establish an internationally oriented biotechnology company with a strong base in China and a focus on oncology. The early company operated in Beijing and the United States, including offices in Philadelphia and at the Zhongguancun Life Science Park. Merck invested $20 million in the company in 2011. The initial business model combined internal research with the acquisition or licensing of rights to experimental medicines that larger pharmaceutical companies had discontinued or deprioritized. BeOne used Chinese hospitals and medical schools for early clinical work, while successful candidates could later be sold to or co-developed with larger companies capable of financing late-stage trials and global commercialization. A major step in the company’s development was the creation of zanubrutinib by its Beijing-based scientists in 2012. The molecule became the basis of Brukinsa, a BTK inhibitor for B-cell cancers. In November 2019, zanubrutinib became the first cancer medicine developed in China to receive FDA approval. It initially received accelerated approval for mantle cell lymphoma. Chinese approval followed in 2020 for mantle cell lymphoma, chronic lymphocytic leukemia, and small lymphocytic lymphoma. Additional approvals followed for Waldenström’s macroglobulinemia and, in other jurisdictions, chronic lymphocytic leukemia and small lymphocytic lymphoma. Comparative clinical studies, including the ALPINE trial, strengthened Brukinsa’s competitive position in relapsed or refractory CLL. The company also developed tislelizumab, initially designated BGB-A317 and later marketed as Tevimbra. The antibody targets PD-1 and was designed to activate anti-tumor immunity while minimizing Fc-gamma receptor binding on macrophages. It was approved in China in December 2019 for classical Hodgkin lymphoma. The program later expanded internationally into gastric, gastroesophageal-junction, esophageal, and lung cancers, with clinical studies enrolling patients in dozens of countries. In 2024 and 2025, regulators in the United States and Europe authorized or recommended additional chemotherapy-combination uses. BeOne’s capital markets expansion began with its February 2016 Nasdaq IPO, in which it sold 6.6 million shares at $24 per share and raised approximately $182 million. A March 2018 follow-on offering raised approximately $758 million, and a Hong Kong secondary listing in August 2018 raised approximately $903 million. These figures are historical transaction amounts reported in the reference material and are not current financial metrics. Partnerships were central to the company’s international growth. In 2017, it partnered with Celgene on tislelizumab and acquired Celgene’s China operations and rights to commercialize Abraxane, Revlimid, and Vidaza in China. Celgene also invested in BeOne and obtained overseas tislelizumab rights under the agreement. After Celgene was acquired by Bristol Myers Squibb, BeOne regained those rights in 2019, together with a payment that concluded the arrangement. In 2019, Amgen acquired a 20.5 percent interest in BeOne in a transaction valued at approximately $2.7 billion and obtained a board seat. BeOne received Chinese commercialization rights to several Amgen products and accepted research-related commitments. The company continued to expand its international footprint during the 2020s. It collaborated with Asieris Pharmaceuticals in 2021 on a bladder-cancer research assessment and opened additional offices in 2022, including a Basel regional hub and an office in Sydney. Australia became an important location for first-in-human Phase 1 studies of internally discovered assets. Novartis returned tislelizumab rights to BeOne in September 2023. On 14 November 2024, BeiGene announced that it would adopt the BeOne Medicines name. The rebrand accompanied a broader effort to present the company as a global oncology enterprise. Its ticker changed to ONC in January 2025, and the company redomiciled to Basel, Switzerland, in May 2025. BeOne continues to focus on oncology drug discovery, clinical development, regulatory approvals, manufacturing, and commercial supply, with Brukinsa and Tevimbra as its principal marketed medicines.
- 2025
Ticker and domicile changes
[1]The company changed its stock ticker to ONC and redomiciled to Basel, Switzerland.
- 2024
BeOne Medicines rebrand announced
[1]BeiGene announced its intention to adopt the BeOne Medicines name.
- 2023
Novartis returns tislelizumab rights
[1]Novartis returned rights to tislelizumab to BeOne.
- 2022
International office expansion
[1]BeOne opened offices including a European hub in Basel and a location in Sydney.
- 2021
Asieris research collaboration
[1]BeOne and Asieris assessed a combination involving an Asieris MetAP2 inhibitor and BeOne's PD-L1 inhibitor for bladder cancer.
- 2019
Amgen takes a strategic stake
[1]Amgen acquired a 20.5 percent interest and obtained a board seat, while BeOne received rights to several Amgen products.
- 2019
Zanubrutinib receives first FDA approval
[1]Brukinsa became the first cancer drug developed in China to receive FDA approval.
- 2019
Tislelizumab approved in China
[1]China approved tislelizumab for classical Hodgkin lymphoma.
- 2018
Hong Kong secondary listing
[1]The company completed a secondary listing on the Hong Kong Stock Exchange.
- 2017
Celgene partnership
[1]BeOne partnered with Celgene on tislelizumab and obtained China rights for several Celgene medicines.
Products and positioning
A global, oncology-focused biopharmaceutical company combining internally discovered medicines, multinational clinical development, strategic licensing, and direct commercialization. Its positioning is particularly associated with hematological cancers, immune-oncology, and the international development of medicines originating from Chinese research.
Hematology oncology · 2019
Brukinsa
Brukinsa is the brand name for zanubrutinib, a small-molecule Bruton's tyrosine kinase inhibitor discovered by BeOne scientists in Beijing. It is used in multiple B-cell malignancies, including mantle cell lymphoma, Waldenström’s macroglobulinemia, chronic lymphocytic leukemia, and small lymphocytic lymphoma. Its development and regulatory expansion have made it BeOne’s leading commercial product. Clinical comparisons, including the Phase 3 ALPINE study against ibrutinib, have supported claims of favorable progression-free-survival performance in specified CLL populations.
Immuno-oncology · 2019
Tevimbra
Tevimbra is the brand name for tislelizumab, a humanized IgG4 anti-PD-1 monoclonal antibody. The molecule was designed to support anti-tumor immune activity while reducing Fc-gamma receptor binding on macrophages. Its clinical program covers several hematological and solid tumors, both as monotherapy and in combination with chemotherapy or other treatments. It was first approved in China for classical Hodgkin lymphoma and later received U.S. and European regulatory decisions for specified gastric, gastroesophageal-junction, esophageal, and lung-cancer indications.
Oncology medicine
Abraxane
Abraxane was among the Celgene oncology products for which BeOne obtained commercialization rights in China through the 2017 Celgene partnership. The product is not an internally discovered BeOne medicine.
Hematology oncology
Revlimid
Revlimid was included among the Celgene products whose China commercialization rights were transferred to BeOne under the 2017 strategic agreement.
Hematology oncology
Vidaza
Vidaza was another Celgene oncology product commercialized in China by BeOne under the companies' 2017 partnership.
Controversies
2025
FDA concerns over promotional communications
The company's U.S. subsidiary received FDA warning letters concerning promotional materials for Brukinsa and Tevimbra that allegedly failed to include or adequately present required risk information.
2024
Investigation involving a senior executive
A senior executive of the then-named BeiGene was reportedly investigated by Chinese anti-smuggling authorities, reportedly in connection with her prior 15-year tenure at AstraZeneca. The available material does not state a final legal outcome.
2024
Trade-secret lawsuit involving AbbVie
AbbVie filed U.S. federal litigation alleging that BeOne's U.S. subsidiary had stolen trade secrets. The reference material describes the litigation as active but does not provide a final judgment.
Brand decisions
2025
Swiss redomiciliationStrategyBackground
BeOne continued to formalize its multinational corporate and operating structure, including a European base in Basel.
Action taken
The company redomiciled to Basel, Switzerland.
Aftermath
Basel became the company's stated headquarters and an important hub for European operations.
2024
Corporate rebrand to BeOne MedicinesStrategyBackground
The former BeiGene identity increasingly represented a company operating globally rather than only a China-based biotechnology business.
Action taken
The company announced that it would change its corporate name to BeOne Medicines.
Aftermath
The rebrand was followed by adoption of the ONC stock ticker in January 2025 and a Swiss redomiciliation in May 2025.
2019
Amgen strategic investment and product-rights transactionM&ABackground
BeOne sought capital, development support, and access to additional oncology products as it expanded beyond China.
Action taken
Amgen acquired a substantial minority interest and a board seat, while BeOne acquired rights to commercialize several Amgen products in China and committed research funding.
Aftermath
The transaction strengthened BeOne's commercial portfolio and connected it to a major international biopharmaceutical partner.
Amgen investment transaction value. (2019)
2017
Celgene strategic development and commercialization agreementM&ABackground
BeOne needed international development resources and commercial access for tislelizumab while Celgene had established oncology products and global capabilities.
Action taken
The companies agreed to continue developing tislelizumab, transferred Celgene's China operations and several product rights to BeOne, and established overseas rights and investment arrangements.
Aftermath
After Bristol Myers Squibb acquired Celgene and was developing a competing immunotherapy, the overseas tislelizumab rights returned to BeOne in 2019.
Reported transaction components. (2017-2019)
Recent events
Biocytogen licenses RenMab/RenLite mouse platform to BeiGene[2]
Biocytogen announced that it licensed BeiGene to use its RenMab/RenLite human antibody mouse platform to develop antibody drugs.
Reported
BeiGene announces planned STAR Market initial public offering[3]
BeiGene announced that it had launched a plan for an initial public offering on the Shanghai Stock Exchange STAR Market. It proposed issuing 115,055,260 ordinary shares; completion, size, and terms remained subject to market conditions and other factors.
Reported
BeiGene completes land acquisition for planned U.S. manufacturing and clinical R&D site[4]
BeiGene announced that it had completed the land acquisition in Hopewell, New Jersey, for a planned manufacturing base and clinical R&D center. Initial construction was planned to begin in 2022, with completion targeted for the end of 2023 or 2024.
Reported
BeiGene announces inclusion in Stock Connect and the Hang Seng Composite Index[5]
BeiGene announced that its Hong Kong-listed ordinary shares would enter the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs on September 7, 2020, and be included in the Hang Seng Composite Index.
Reported
BeiGene and Danxu Bio enter antibody licensing agreement[6]
BeiGene and Beijing Danxu Biopharmaceutical signed an exclusive license agreement under which BeiGene will develop, manufacture, and commercialize Danxu's investigational COVID-19 neutralizing antibodies outside Greater China.
Reported
BeiGene appoints Corsee Sanders to its board[7]
BeiGene announced the appointment of Corsee Sanders to its board of directors and her addition to the board audit and scientific advisory committees.
Reported
Bio-Thera and BeiGene sign China agreement for BAT1706[8]
Bio-Thera and BeiGene announced that they had signed an agreement covering the licensing, distribution and supply of Bio-Thera’s investigational biosimilar BAT1706 in China, including Hong Kong, Macao and Taiwan. The agreement was subject to approval at Bio-Thera’s September 2020 shareholders’ meeting.
Reported
Assembly and BeiGene announce China licensing collaboration for three hepatitis B drug candidates[9]
Assembly Biosciences and BeiGene announced a collaboration granting BeiGene exclusive rights to develop and commercialize three clinical-stage hepatitis B core inhibitor candidates in China, including Hong Kong, Macao, and Taiwan. Assembly is to receive a $40 million upfront payment and may receive milestone payments and royalties.
Reported
BeiGene announces $2.08 billion equity financing[10]
BeiGene announced a registered direct offering of 145,838,979 shares to existing investors, with gross proceeds of approximately $2.08 billion. The offering was expected to close around July 15, 2020.
Reported
BeiGene announces pricing of approximately $2.08 billion registered direct offering[11]
BeiGene announced the pricing of a registered direct offering of 145,838,979 ordinary shares to certain existing investors, with gross proceeds of approximately $2.08 billion. The offering was expected to close around July 15, subject to customary closing conditions.
Sources17 sources
- 1BeOne Medicinesen.wikipedia.org
- 2百奥赛图授权百济神州使用RenMab/RenLite小鼠平台tech.china.com
- 3百济神州宣布启动科创板首次公开发行计划prnasia.com
- 4百济神州完成美国生产基地和临床研发中心用地收购prnasia.com
- 5百济神州宣布进入沪港通、深港通并纳入恒生综合指数prnasia.com
- 6百济神州与丹序生物达成抗体独家授权协议finance.sina.com.cn
- 7百济神州任命Corsee Sanders为董事会成员prnasia.com
- 8百奥泰与百济神州签订BAT1706中国授权、分销及供货协议finance.sina.com.cn
- 9Assembly与百济神州宣布三款乙肝候选药物在中国的授权合作finance.sina.com.cn
- 10百济神州宣布20.8亿美元股权融资finance.sina.com.cn
- 11百济神州宣布约20.8亿美元注册直接发行定价prnasia.com
- 12百济神州公布2020年第一季度业绩finance.sina.com.cn
- 13百济神州预计ABRAXANE在中国供应暂时中断finance.sina.com.cn
- 14安进完成对百济神州的股权投资finance.sina.com.cn
- 15百济神州与上海市东方医院建立临床研究合作finance.sina.com.cn
- 16安进同意购入百济神州20.5%股份finance.sina.com.cn
- 17百济神州宣布价值约为20.8亿美元的注册直接发行定价finance.sina.com.cn
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