On July 11, 2023 BeiGene reported that on July 10, 2023 BeiGene and Novartis entered into a Mutual Termination and Release Agreement (the "Termination Agreement") to mutually terminate the Option Agreement, effective immediately (Filing, BeiGene, JUL 11, 2023, View Source [SID1234633334]). Pursuant to the Termination Agreement, BeiGene Switzerland regained full, global rights to develop, manufacture and commercialize ociperlimab.

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The foregoing description of the terms of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Termination Agreement, which the Company intends to file as an exhibit to a subsequent periodic report or on an amendment to this Current Report on Form 8-K.

Item 8.01. Other Events.
The Company will continue the enrollment of the Phase 3 AdvanTIG 302 trial of ociperlimab in combination with its anti-PD-1 antibody tislelizumab for the first-line treatment of patients with locally advanced, unresectable, or metastatic non-small cell lung cancer ("NSCLC") whose tumors exhibit high PD-L1 expression and do not harbor EGFR-sensitizing mutations or ALK translocations. Due to the changing treatment paradigm, the Company will discontinue the Phase 3 AdvanTIG 301 trial of ociperlimab in combination with tislelizumab versus durvalumab following concurrent chemoradiotherapy in patients with stage III unresectable NSCLC. The Company will carefully evaluate all available data to inform future development opportunities with ociperlimab.