Oncology company BeOne Medicines Ltd (NASDAQ:ONC) (HKEX:06160) (SSE:688235) announced on Thursday that it will invest USD300m to expand its flagship manufacturing and research and development campus in Hopewell, New Jersey, increasing its total US manufacturing investment to more than USD1bn.

This expansion is expected to create approximately 120 full-time jobs and increase domestic production capacity for the company's oncology medicines.

The project includes construction of a three-storey, 145,000 sq ft building, expanding the Princeton West Innovation Campus to approximately 545,000 sq ft. The new facility will add small molecule drug manufacturing and packaging capabilities alongside quality control laboratories, office space and capacity for future growth, with operations expected to begin in 2029.

Opened in 2024 following an initial USD800m investment, the Hopewell campus serves as BeOne's flagship US manufacturing and clinical research and development hub for biologics and oncology products. The site is expected to employ approximately 240 people by the end of 2029.

BeOne said the expansion will support its oncology pipeline of more than 35 clinical and commercial-stage assets and strengthen its internal clinical, regulatory and manufacturing platform. The additional capacity will support development programmes across blood cancers and multiple solid tumour indications, including breast, gynaecologic, lung, liver and gastrointestinal cancers.