BeOne Medicines Expands U.S. Manufacturing with Total Investment of More Than $1 Billion to Advance Innovative Cancer Medicines

SAN CARLOS, Calif.--(BUSINESS WIRE)--Jul 23, 2026--

BeOne Medicines, Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced a $300 million expansion of its flagship clinical and commercial-stage manufacturing and research and development center at the Princeton West Innovation Campus in Hopewell, New Jersey, bringing total U.S. manufacturing investment to more than $1 billion. The expansion will increase BeOne's production capacity to manufacture its medicines and is expected to create approximately 120 new full-time jobs. The investment supports the continued advancement of BeOne's deep oncology pipeline of more than 35 clinical and commercial-stage assets.

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Aaron Rosenberg, Chief Financial Officer, BeOne Medicines, said:
“Today's announcement reflects BeOne's commitment to strengthening U.S. manufacturing and expanding access to innovative medicines for patients with cancer. We appreciate the federal tax policies advanced by the President that encourage investment in biopharmaceutical production, alongside the Next New Jersey Manufacturing Program and the Governor’s efforts to support advanced manufacturing and high-quality job creation. Together, these efforts create an environment for long-term growth, and we are proud to continue expanding our global footprint in support of patients.”

Expanding manufacturing capacity
With this expansion, BeOne's Princeton West Innovation Campus will become a fully integrated, multi-platform manufacturing site, combining existing biologics production with new small molecule drug product capabilities under one roof. The expansion involves construction of a new three-story, 145,000-square-foot building adjacent to BeOne's existing Hopewell facilities, bringing the total campus footprint to approximately 545,000 square feet. The new building will house drug product manufacturing and packaging operations that strengthen BeOne's production and supply chain capabilities to support its growing hematology portfolio and pipeline, alongside quality control laboratories, office space, and capacity reserved for future growth. The expanded site will also provide additional flexibility to support strategic collaborations with partners and advance BeOne's global development superhighway.

Expansion highlights include:

BeOne's Princeton West Innovation Campus
Opened in July 2024 following an initial investment of $800 million, the latest $300 million expansion brings total investment at the Princeton West Innovation Campus to more than $1 billion. As BeOne's flagship U.S. manufacturing and clinical R&D hub, the campus also supports clinical and commercial-stage biologics manufacturing for the Company's solid tumor portfolio. The 42-acre site features more than 1 million square feet of developable real estate for future growth.

Accelerating BeOne's global development superhighway
The U.S. expansion strengthens BeOne’s global development superhighway, the company’s fully internal platform of clinical, regulatory, and manufacturing capabilities. This strategically advantaged model combines one of the industry’s largest oncology research teams with nearly 6,000 clinical development and manufacturing colleagues, helping reduce the cost and time required to develop new medicines for cancer patients around the world. The added capacity will support pipeline programs across multiple blood cancers, as well as breast, gynecologic, lung, liver, gastrointestinal, and other tumor types. These programs span multiple innovative modalities, including small molecules, biologics, targeted protein degraders, multispecific antibodies, and antibody drug conjugates.

BeOne in the United States
BeOne is domiciled in Switzerland and employs over 12,000 colleagues across six continents, including more than 2,000 in the U.S. In 2025, BeOne generated nearly $2 billion in direct U.S. economic impact and invested approximately $1 billion in U.S. R&D. The company is conducting 93 clinical trials across 45 states and one territory at approximately 1,100 clinical trial sites, supported by more than 650 investigators. BeOne Medicines has delivered its life-changing cancer therapies to more than 2 million patients globally.

About BeOne
BeOne Medicines is a global oncology company that is discovering and developing innovative treatments for cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company has a growing global team spanning six continents who are driven by scientific excellence and exceptional speed to reach more patients than ever before. To learn more about BeOne, please visit www.beonemedicines.com and follow us on LinkedIn, X, Facebook and Instagram.

Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the potential effects of BeOne’s expansion of its flagship manufacturing facility in Hopewell, New Jersey; the increase of BeOne’s production capacity to manufacture its medicines in the U.S.; the continued advancement of BeOne’s deep oncology pipeline; the additional flexibility to support BeOne’s strategic collaborations with partners and advance BeOne’s global development superhighway; and BeOne’s plans, commitments, aspirations, and goals under the heading “About BeOne.” Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeOne’s ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing, and progress of clinical trials and marketing approval; BeOne’s ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeOne’s ability to obtain and maintain protection of intellectual property for its medicines and technology; BeOne’s reliance on third parties to conduct drug development, manufacturing, commercialization, and other services; BeOne’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products and its ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and those risks more fully discussed in the section entitled “Risk Factors” in BeOne’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeOne’s subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeOne undertakes no duty to update such information unless required by law.

To access BeOne media resources, please visit our Newsroom.

BeOne Medicines' biologics manufacturing facility and clinical R&D center of excellence at the Princeton West Innovation Campus in Hopewell, NJ.

TACOMA, Wash.--(BUSINESS WIRE)--Jul 23, 2026--

Bridge Logistics Properties (" BLP ") announced the acquisition of 6920 192nd Street, a 782,775-square-foot Class A distribution facility located in Frederickson, Washington, within the Seattle-Tacoma metro area. The transaction marks BLP's largest acquisition in the Seattle market to date, further establishing its presence in the Pacific Northwest.

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Completed in 2024 and fully leased to Harbor Freight Tools on a long-term basis, the facility serves as a regional distribution center supporting its network of more than 1,600 stores nationwide.

Situated on 53.3 acres approximately 17 miles from the Port of Tacoma, the largest container port in the Seattle metro area, the property offers exceptional regional connectivity to the ports, major population centers, and critical transportation infrastructure throughout the Pacific Northwest. The planned SR 167 extension to the Port of Tacoma, expected to be completed by 2030, will further enhance connectivity and reduce drive times to the port.

The facility offers best-in-class, institutional-quality specifications, including:

"This acquisition reflects our conviction in premier logistics markets with durable long-term fundamentals and meaningful barriers to large-format development," said Paul Jones, Managing Director of BLP. "Frederickson has emerged as one of the Pacific Northwest's most prominent industrial hubs, and this facility stands alone in the market for its quality and scale. It is an ideal foundation for our long-term growth in the region."

Frederickson serves as a key extension of the Kent Valley and continues to attract large corporate users including Boeing, Amazon, IKEA, Whirlpool, GE, Ashley Furniture, and Floor & Décor, alongside deep institutional ownership. The market's supply pipeline has contracted sharply, with under-construction inventory down more than 60% year-over-year, positioning well-located, large-format Class A assets to benefit as demand strengthens.

The property was developed by Panattoni and delivered in 2024 as part of the larger Fred310 industrial development in Frederickson.

Jeff Chiate and Bryce Aberg of Cushman Wakefield facilitated this acquisition.

About BLP

BLP is a vertically integrated logistics real estate investment manager led by tenured, multi-disciplinary real estate professionals with experience navigating several economic environments over the past three decades. Its founding members and leadership team employ a disciplined investment strategy that is both cycle-tested and innovative. Founded in 2021, BLP is comprised of industrial real estate veterans with prior tenure at Brookfield, Prologis, IDI Logistics, Duke Realty, Hines and KTR Partners.

BLP is highly collaborative with its institutional capital partners. Leveraging its deep local relationships and its global operating experience, BLP uncovers and executes on investment opportunities in targeted coastal and gateway markets in the U.S. BLP executes its acquisition and development strategy in a vertically integrated regional structure across five offices located in New Jersey, Atlanta, Miami, Dallas and Los Angeles. Its steadfast focus on innovation and sustainable development promotes solutions that are both profitable and socially responsible. For more information, visit BridgeBLP.com.

About Bridge Investment Group

Bridge Investment Group is an affiliate of Apollo Global Management, Inc. (NYSE: APO) and a leading alternative investment manager, diversified across specialized asset classes. Powered by Apollo, Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select real estate verticals.

Forward-Looking Statements:

This press release has been prepared solely for informational purposes and is not to be construed as investment advice or an offer or a solicitation for the purchase or sale of any financial instrument, property, or investment. It is not intended to provide, and should not be relied upon for, tax, legal, or accounting advice. The opinions, estimates, forecasts, and statements of financial market trends are subject to change without notice due to changes in the market or economic conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness.

BLP's newly acquired trophy industrial facility in Frederickson, Washington, with Mount Rainier rising behind the 782,775-SF Class A distribution center.