Legend Biotech Achieves $50 Million Milestone Payment Under Janssen Deal
April 21 2022 - 08:28AM
Dow Jones News
By Chris Wack
Legend Biotech Corp. said it achieved a $50 million milestone
under its collaboration agreement with Janssen Biotech Inc. for
ciltacabtagene autoleucel, now marketed in the U.S. under the brand
name Carvykti.
Cilta-cel is a B-cell maturation antigen-directed chimeric
antigen receptor T-cell therapy.
Legend Biotech said it agreed with Janssen to develop,
manufacture and commercialize cilta-cel for the treatment of
multiple myeloma. Legend Biotech received an upfront payment of
$350 million and is entitled to receive additional payments upon
achievement of landmarks for development, production performance,
regulatory and sales.
The global agreement specifies a 50-50 cost and profit-sharing
agreement in all markets, excluding greater China, where the split
is 70% for Legend and 30% for Janssen.
Including the $50 million payment, Legend has achieved $300
million in milestone payments during the collaboration.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 21, 2022 09:13 ET (13:13 GMT)
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