On September 12th, the A-share price of BeiGene (SH688235, stock price 144.01 yuan, market value 198.44 billion yuan) fell sharply by 10.61%.
On the afternoon of the 12th, BeiGene told the Daily Economic News reporter that the company has recently learned that AbbVie has filed a lawsuit against the company, claiming that BeiGene has stolen its trade secrets for the Bruton's tyrosine kinase (BTK) degradation agent project, which includes the compound BGB-16673 independently discovered by BeiGene researchers through years of innovative research.
According to BeiGene's 2024 interim report, BGB-16673 is an investigational chimeric degradation activating compound (CDAC) targeting BTK. On August 27th, BeiGene announced that the FDA has granted the drug fast track status for the treatment of adult patients with relapsed/refractory (R/R) chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have previously received at least two lines of treatment, including BTK inhibitors and BCL2 inhibitors.
In addition, the company also expects in its 2024 interim report that the first trial of BGB-16673 for the treatment of R/R and CLL/SLL will enroll the first subject in the fourth quarter of 2024 or the first quarter of 2025.
BeiGene told reporters that the company will vigorously defend itself against the allegations made by AbbVie. The company denies this accusation and will firmly defend its intellectual property rights against the lawsuit. BeiGene believes that the lawsuit intends to hinder the development process of BGB-16673, which is currently the fastest progressing BTK degradation agent in clinical development. BeiGene had already applied for a patent for BGB-16673 several years before AbbVie first applied for a BTK degradation agent patent. BeiGene firmly believes that its research and development projects adhere to the principle of integrity.
BeiGene's focus on advancing the BGB-16673 development project will not be interrupted by this lawsuit. We are currently carefully reviewing AbbVie's complaint and will respond appropriately through legal procedures. In addition, this lawsuit will not affect our ability to serve patients or carry out operations, "BeiGene said.