Novartis Signs a License and Collaboration Agreement with Cellular Biomedicine Group (CBMG) for CAR-T Cell Therapy in China
Novartis Signs a License and Collaboration Agreement with Cellular Biomedicine Group (CBMG) for CAR-T Cell Therapy in China
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
Click here to read full press release/ article | Ref: Cellular Biomedicine Group | Image: NAI500
