BeOne Medicines, Ltd. (Nasdaq: ONC) announced a $300 million expansion of its manufacturing and research facility at the Princeton West Innovation Campus in Hopewell, New Jersey, bringing total investment at the site to more than $1 billion.

The expansion involves construction of a new three-story, 145,000-square-foot building adjacent to the existing campus, bringing the total site footprint to approximately 545,000 square feet. The facility is expected to be fully operational by 2029 and is projected to create approximately 120 new full-time jobs, bringing total headcount at the Hopewell site to approximately 240 by end of that year.

The new building will add small molecule drug product manufacturing and packaging operations to the campus, which currently handles biologics production. The site will become what the company describes as a fully integrated, multi-platform manufacturing facility.

The Hopewell campus opened in July 2024 following an initial investment of $800 million. The 42-acre site includes more than 1 million square feet of developable real estate.

Aaron Rosenberg, Chief Financial Officer of 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."

According to the company, the added capacity will support pipeline programs across multiple cancer types, including blood cancers, breast, lung, liver, and gastrointestinal tumors. BeOne Medicines is domiciled in Switzerland and employs more than 12,000 people across six continents, including more than 2,000 in the United States. The company reported nearly $2 billion in direct U.S. economic impact in 2025 and invested approximately $1 billion in U.S. research and development that year.