RTTNews | Jul 12, 2020 10:44PM EDT

22:43 Sunday, July 12, 2020 (RTTNews.com) - Amgen (AMGN) said it will additionally invest about $421 million in Chinese biotech company BeiGene's (BGNE) registered direct offering of ordinary shares. The investment maintains Amgen's current pro rata ownership of BeiGene at about 20.3%.

Amgen said the additional investment reflects its confidence in the progress the companies are making in their ongoing oncology collaboration in China.

Earlier today, Beigene said it plans to raise $2.08 billion in a direct offering of 145.84 million shares. The shares will be priced at $14.23 per share or $185 per American Depositary Share. The offering is expected to close on or around July 15.

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