Legend Biotech Subsidiary in License Agreement With Novartis
November 13 2023 - 8:16AM
Dow Jones News
By Chris Wack
Legend Biotech said its Legend Biotech Ireland subsidiary has
entered into an exclusive, global license agreement for LB2102 with
Novartis Pharma AG for certain Legend Biotech chimeric antigen
receptor T-cell cell therapies targeting Delta-like ligand protein
3.
The license agreement grants Novartis the exclusive worldwide
rights to develop, manufacture and commercialize these cell
therapies, and Novartis may apply its T-Charge platform to their
manufacture.
Legend Biotech is initiating clinical development of LB2102 for
the treatment of extensive stage small-cell lung cancer and large
cell neuroendocrine carcinoma after the U.S. Food and Drug
Administration cleared its investigational new drug application in
2022. In 2023, the FDA granted the product candidate Orphan Drug
Designation, a status conferred to drugs or biologics that are
intended to treat, diagnose or prevent rare diseases and
conditions.
Under the license agreement, 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.
Legend Biotech will receive a $100 million upfront payment and
will be eligible to receive up to $1.01 billion in clinical,
regulatory and commercial milestone payments and tiered
royalties.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 13, 2023 09:01 ET (14:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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