BASEL (dpa-AFX) - Legend Biotech Corp. (LEGN) announced that Legend Biotech Ireland Limited, a subsidiary of Legend Biotech, has entered into an exclusive, global license agreement with Novartis Pharma AG for certain Legend Biotech chimeric antigen receptor T-cell cell therapies. The license agreement grants Novartis the exclusive worldwide rights to develop, manufacture and commercialize these cell therapies. Legend Biotech will receive a $100 million upfront payment and will be eligible to receive up to $1.01 billion in milestone payments and tiered royalties.
Legend Biotech will conduct a Phase 1 clinical trial for LB2102 in the U.S. Novartis will conduct all other development for the licensed products.
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