Legend Biotech Announces Exclusive, Global License Agreement For Certain CAR-T Therapies Targeting DLL3
Portfolio Pulse from Benzinga Newsdesk
Legend Biotech has entered into an exclusive global license agreement with Novartis for CAR-T cell therapies targeting DLL3, including the candidate LB2102. Legend will receive $100M upfront and is eligible for up to $1.01B in milestone payments plus royalties. LB2102, which has received FDA Orphan Drug Designation, will be developed using Novartis's T-Charge platform. The deal is subject to regulatory approvals, including under the Hart-Scott-Rodino Act.
November 13, 2023 | 1:54 pm
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Legend Biotech enters a lucrative deal with Novartis for CAR-T therapies, including LB2102, with a $100M upfront payment and up to $1.01B in milestones plus royalties. LB2102 has FDA Orphan Drug Designation, indicating its potential in treating rare diseases.
The agreement with Novartis provides Legend Biotech with a substantial upfront payment and the potential for future earnings, which is likely to be viewed positively by investors. The FDA Orphan Drug Designation for LB2102 suggests a promising outlook for the therapy's development and potential market exclusivity, further bolstering investor sentiment.
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