Novartis Signs Deal With BeiGene on Immunotherapy for Up to $1 Billion
December 20 2021 - 07:09AM
Dow Jones News
By Cecilia Butini
Novartis AG said Monday that is has signed an option,
collaboration and license agreement with BeiGene Ltd. for the
development of an immunotherapy cancer treatment for up to $1
billion.
The Swiss pharma major said, under the terms of the agreement,
it would make an upfront payment to BeiGene of $300 million to add
a drug, named ociperlimab, to its pipeline. A fee of up to $700
million would also be paid to BeiGene in case the option part of
the agreement is exercised before late 2023.
When the option is exercised, Novartis will obtain development
and commercialization rights to ociperlimab in the U.S., the
European Union, Russia and Japan among others, the company said.
BeiGene will retain the rights connected to the drug in China,
though the two companies have agreed for BeiGene to promote a
select number of Novartis's oncology products in the country,
Novartis said.
Ociperlimab is currently being studied in Phase 3 trials for
advanced non-small cell lung cancer, and its development goes
together with Novartis's tislelizumab, the company said.
"During the option period, Novartis and BeiGene will collaborate
on the clinical development of ociperlimab in combination with
tislelizumab, with Novartis designing, sponsoring, conducting, and
funding global combination clinical trials," Novartis said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
December 20, 2021 06:54 ET (11:54 GMT)
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