Novartis Inks License Deal With Chinese Firm BeiGene For Ociperlimab

Swiss pharmaceutical company Novartis AG (NVS) said on Monday that it has inked an option, collaboration, and license agreement with Chinese biotech firm BeiGene Ltd. (BGNE) for Ociperlimab.

Ociperlimab, discovered by BeiGene, is currently being evaluated in two Phase III lung cancer trials and additional studies are ongoing in a wide range of solid tumors.

According to the terms of the deal, Novartis will make an upfront payment of $300 million to BeiGene, and a fee of up to $700 million would be paid to BeiGene, if the option is exercised before late 2023.

Upon exercise of the option, Novartis would secure the development and commercialization rights to Ociperlimab in the United States, Canada, Mexico, the European Union, United Kingdom, Norway, Iceland, Liechtenstein, Switzerland, Russia and Japan. BeiGene agrees to provide 50 percent of the co-detailing efforts in the United States following approval and will retain the rights to Ociperlimab in China and all other countries.

The two companies have also entered into a strategic commercial agreement through which BeiGene will promote a select number of Novartis Oncology products in the China broad market.

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