BeiGene Expands Collaboration with Novartis

 Strategic collaboration expected to advance clinical development of ociperlimab in combination with tislelizumab, including initiation and funding by Novartis of additional studies

BeiGene expands commercial portfolio in China broad markets with marketing rights for five Novartis Oncology products

Under the terms of the agreement, BeiGene will receive an upfront cash payment of $300 million from Novartis along with an additional payment of $600 or $700 million upon exercise by Novartis of an exclusive time-based option prior to mid-2023 or between then and late-2023, subject to receipt of required antitrust approval. In addition, following option exercise, BeiGene is eligible to receive up to $745 million upon the achievement of regulatory approval milestones, $1.15 billion upon the achievement of sales milestones, and royalties on future sales of ociperlimab in the licensed territory. The licensed territory is the same as the tislelizumab collaboration, the United States, Canada, Mexico, member countries of the European Union, United Kingdom, Norway, Switzerland, Iceland, Liechtenstein, Russia, and Japan. Subject to the terms of the agreement, during the option period, Novartis will initiate and fund additional global clinical trials with ociperlimab and BeiGene has agreed to expand enrollment in two ongoing trials. Additionally, following the option exercise, Novartis has agreed to share development costs of global trials. Following approval, BeiGene has agreed to provide 50 percent of the co-detailing and co-field medical efforts in the United States, and has an option to co-detail up to 25 percent in Canada and Mexico, funded in part by Novartis. Each party retains the worldwide right to commercialize its propriety products in combination with ociperlimab, as is the case with tislelizumab under the parties’ existing agreement.

https://finance.yahoo.com/news/beigene-expands-collaboration-novartis-develop-111500627.html