Shots:

• Novartis to get royalty-free worldwide- intellectual property rights for CBMG’s CAR-T related technology. CBMG to get a mark-up on the manufacturing cost. CBMG will take care of the manufacturing process- and Novartis will undertake distribution- regulatory and commercialization in China
• Novartis to pay $40M in the form of equity purchase for its 1-458-257 shares at $27.43/share) ~9% of CBMG and also pay single-digit milestone payment to CBMG. Under the agreement the CBMG will manufacture and supply CAR-T cell therapy Kymriah (tisagenlecleucel) in China- and Novartis will have the commercialization rights
• The agreement will focus on bringing CAR-T cell therapy Kymriah in China- currently approved in the US- EU and Canada for treatment of cancer

Ref: Cellular Biomedicine Group | Image: NAI500