Merck Serono has signed a global licensing, co-development and commercialization agreement with BeiGene, an R&D  biotech  in Beijing, for the compound BeiGene-290. The compound, a potent poly (ADP-ribose) polymerase (PARP) inhibitor for the treatment of cancer, currently is in preclinical development and is expected to enter clinical development next year. This is the second collaboration agreement between the two companies this year.

PARP inhibitors are thought to target an enzyme family, poly (ADP-ribose) polymerase, which is involved in a number of cellular processes including DNA repair and programmed cell death.

BeiGene will be responsible for the development and commercialization of BeiGene-290 in China, and Merck will be responsible for the development and commercialization of BeiGene-290 for the rest of the world. BeiGene will receive an undisclosed payment and is eligible to receive further payments of up to $232 million for royalties, clinical development and commercial milestones in both the People's Republic of China and rest of the world.