Shots:

• Novartis to receive $300M up front, $600M to $700M as option fees, based on exercise period before mid or late 2023, ~745M as regulatory milestones, $1.15B upon achievement of sales milestones along with royalties
• Novartis get an exclusive option to license program in the US, Canada, EU, UK, Norway, Russia, Japan & 4 other countries. BeiGene get the rights in China & other countries
• Upon the option agreement, the companies collaborated for the clinical development of ociperlimab + tislelizumab while Novartis will lead the designing, sponsoring, conducting & funding of the trials.  BeiGene will promote a select Novartis Oncology products in China upon the commercial agreement

Ref: Globe Newswire | Image: Novartis