Novartis Options BeiGene Anti-Cancer Therapy in $1 Billion Deal

By Reuters
Reuters
Reuters
December 21, 2021 Updated: December 21, 2021

ZURICH—Novartis has signed an option, collaboration, and license agreement with BeiGene Ltd for anti-cancer therapy ociperlimab (BGB-A1217) to expand its activities in immuno-oncology, the Swiss drugmaker said on Monday.

Under terms of the agreement, Novartis will make an upfront payment to BeiGene of $300 million and pay a fee of up to $700 million if the option is exercised before late 2023 for ociperlimab, now being evaluated in two Phase III lung cancer trials and additional studies in a wide range of solid tumors.