Novartis terminates its option agreement with BeiGene relating to ociperlimab, an investigational TIGIT inhibitor.
BeiGene Switzerland GmbH , a wholly-owned indirect subsidiary of BeiGene, Ltd. entered into an Option, Collaboration and License Agreement with Novartis Pharma AG , 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.
On July 10, 2023, BeiGene Switzerland and Novartis entered into a Mutual Termination and Release Agreement to mutually terminate the Option Agreement, effective immediately. Pursuant to the Termination Agreement, BeiGene Switzerland regained full, global rights to develop, manufacture and commercialize ociperlimab.
BeiGene continues to recruit patients in the Phase III AdvanTIG 302 trial of ociperlimab plus tislelizumab, in newly diagnosed non-small cell lung cancer. The trial, which is expected to complete in 2025, is enrolling patients whose tumors express high-levels of a protein that make them sensitive to PD1-blocking treatments.
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