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

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

Vartika Singh

Vartika Singh is a content writer who loves to write research articles and reports at PharmaShots. She has in-depth knowledge of the life sciences industry including the Pharma and Biotech sectors. Any articles written by her can be contacted at connect@pharmashots.com.

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