Novartis : BeiGene to Collaborate With Novartis on Tislelizumab, Will Get $650 Million Upfront Payment

By Josh Beckerman

BeiGene Ltd. will collaborate with Novartis AG on development of BeiGene's anti-PD-1 antibody tislelizumab and will receive a $650 million upfront cash payment.

Beijing-based BeiGene, which focuses on cancer drugs, is eligible to receive up to $1.55 billion in potential regulatory and sales milestone payments, plus royalties on product sales.

The companies will jointly develop tislelizumab in various markets including the U.S., European Union member countries, U.K., Russia, Japan, Canada and Mexico.

BeiGene American depositary receipts were up 1.8% after hours to $283.99.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

01-11-21 1753ET