Nanjing Legend Biotech received a $350 million upfront payment from Janssen Biotech, which will form a global partnership with Legend for its highly effective CAR-T candidate. In June, Legend, which was not previously well known, surprised the annual ASCO meeting with stunningly positive results from an early trial of the CAR-T molecule in patients with multiple myeloma. In addition to the $350 million initial payment, Janssen will make unspecified development and regulatory milestone payments to Legend. The two companies will split costs and profits 50-50 in global markets, except for China, where Legend will receive 70% of the profits. Legend has already submitted an NDA in China for the candidate. The two companies plan to start US trials soon.
Source: China Biotoday
