By Chris Wack

BeiGene Ltd. shares fell 12% to $171.90 after the company said it entered into a worldwide strategic collaboration with InnoRNA to use its technology platform for developing mRNA-based therapeutics.

InnoRNA will receive an upfront cash payment and will be eligible to receive additional payments based upon the achievement of certain development, regulatory, and commercial milestones, as well as tiered royalties, for the mRNA-LNP research collaboration programs.

BeiGene will hold exclusive global development and commercialization rights for the mRNA-LNP therapies jointly discovered by InnoRNA and BeiGene.

InnoRNA will receive an additional upfront cash payment and is eligible for additional milestone payments for granting BeiGene non-exclusive license to its proprietary LNP Technology platform.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-06-22 1237ET