BeiGene's ociperlimab deal with Novartis terminated
The Swiss subsidiary of Sino-American biotech BeiGene (HKEX: 06160) and Swiss pharma giant Novartis (NOVN: VX) on Tuesday entered into a mutual termination and release agreement to mutually terminate the option agreement, effective immediately.
As a result, BeiGene Switzerland regained full, global rights to develop, manufacture and commercialize ociperlimab, the parent company disclosed in a Securities and Exchange Commission filing yesterday.
As previously disclosed, on December 19, 2021, BeiGene Switzerland, a wholly-owned indirect subsidiary of BeiGene, entered into an option, collaboration and license agreement with Novartis Pharma, pursuant to which BeiGene Switzerland granted Novartis an exclusive time-based option to receive an exclusive license to develop, manufacture and commercialize the company’s investigational TIGIT inhibitor ociperlimab in certain territories.
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