BeiGene terminates TIGIT inhibitor option pact with Novartis; regains full rights to ociperlimab

BeOne Medicines Ltd.

Mutual termination effective July 10, 2023; BeiGene Switzerland regains global rights to develop, manufacture and commercialize ociperlimab.
Phase 3 AdvanTIG 302 trial of ociperlimab + tislelizumab for 1L NSCLC with high PD-L1 will continue enrollment.
Phase 3 AdvanTIG 301 trial in stage III unresectable NSCLC discontinued due to changing treatment paradigm.
Option agreement originally disclosed December 19, 2021; no financial terms of termination disclosed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BeOne Medicines Ltd. terminated Option, Collaboration and License Agreement with Novartis Pharma AG valued at Mutual termination of the Option Agreement, effective immediately. (effective 2023-07-10).

Action: termination
Agreement: collaboration
Counterparty: Novartis Pharma AG
Value: Mutual termination of the Option Agreement, effective immediately.
Effective: 2023-07-10

Exact text from the filing

Item 1.02. Termination of a Material Definitive Agreement. As previously disclosed, on December 19, 2021, BeiGene Switzerland GmbH (“BeiGene Switzerland”), a wholly-owned indirect subsidiary of BeiGene, Ltd. (the “Company”), entered into an Option, Collaboration and License Agreement (the “Option Agreement”) with Novartis Pharma AG (“Novartis”), 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 (the “Termination Agreement”) to mutually terminate the Option Agreement, effective immediately.

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Source: SEC EDGAR

accession 0001651308-23-000107

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