Novartis: completes agreement with BeiGene
(CercleFinance.com) - BeiGene, a Chinese biotech company, announced on Friday that it has completed its agreement with Novartis, under which both groups will jointly develop a monoclonal antibody for the treatment of cancer.
Under the terms of the agreement, Novartis will be responsible for submitting the registration applications for the product, called Tislelizumab, and for its commercialization, if approved by the health authorities.
In return, BeiGene will receive an upfront payment of 650 million dollars, which may be accompanied by a further 1.3 billion dollars if marketing approvals are obtained.
Note that the agreement between both companies excludes China, where Tislelizumab was recently approved for the treatment of classical Hodgkin's lymphoma, bladder cancer and lung cancer.
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