BeiGene’s Collaboration and License agreement with Novartis

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo advised BeiGene on the deal.

BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160) announced its option, collaboration, and license agreement with pharmaceutical company Novartis Pharma AG to develop, manufacture and commercialize BeiGene’s investigational TIGIT inhibitor ociperlimab in North America, Europe, and Japan. In addition, the parties entered into an agreement granting BeiGene rights to market, promote, and detail five approved Novartis oncology products across designated regions of China. 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, subject to receipt of required antitrust approval.

The new agreement builds on an existing collaboration between BeiGene and Novartis for anti-PD1 antibody tislelizumab announced in January, which was also advised on by Mintz. BeiGene has granted Novartis an exclusive time-based option under which, upon exercise by Novartis prior to late 2023, the companies have agreed to jointly develop ociperlimab, with Novartis responsible for regulatory submissions after a transition period and for commercialization upon regulatory approvals in the licensed territory. During the option period Novartis will conduct and fund additional global clinical trials of ociperlimab in combination with tislelizumab in selected tumor types. In addition, following option exercise, both companies may conduct clinical trials globally to explore combinations of ociperlimab with other cancer treatments. Following approval, BeiGene will co-detail the product in the United States.

The Mintz team was led by Member of the firm’s Licensing & Collaborations Practice John J. Cheney (Picture).

Involved fees earner: John Cheney – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo;

Law Firms: Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo;

Clients: BeiGene, Ltd.;

Martina Bellini

Author: Martina Bellini