On September 19, 2023 Novartis reported that since the company entered the agreement in January 2021, the PD-1 inhibitor landscape has changed considerably (Press release, Novartis, SEP 19, 2023, https://www.novartis.com/news/novartis-statement-collaboration-and-license-agreement-tislelizumab-beigene-ltd [SID1234636350]). As a result of this, we have reassessed our strategy in this category and decided to terminate this agreement.

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With the termination of the agreement, BeiGene, Ltd. will re-assume all development and commercialization rights for tislelizumab, and Novartis will manufacture tislelizumab. Novartis and BeiGene are committed to working together to develop a transition plan to enable tislelizumab regulatory submissions to continue as planned and ensure smooth transition of activities. Additionally, BeiGene will provide Novartis with ongoing clinical supply of tislelizumab to support its clinical trials.

This decision will provide Novartis with greater flexibility for development of its unique, potentially transformational pipeline assets, notably in markets where there are already approved PD-1 therapies in desired indications that can support development of our novel IO combination programs.