Mintz advised biotechnology company BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160) in its recently announced 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 representing BeiGene was led by Member of the firm’s Licensing & Collaborations Practice John J. Cheney. Since 2010, Mintz and Mr. Cheney have represented BeiGene in numerous licensing transactions, including in strategic collaborations with Amgen in 2019, Mirati Therapeutics, Inc. in 2018, and Celgene Corporation in 2017, among others.
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