Cellular Biomedicine Group September 27Announced a strategic licensing and collaboration agreement with Novartis to be responsible for the manufacturing and supply of the CAR-T cell therapy drug Kymriah® (tisagenlecleucel) in China. Novartis will become the exclusive holder of the marketing authorization.
Cellular Biomedicine Group is aA clinical-stage biopharmaceutical company engaged in the development of cancer immunotherapies and stem cell therapies for degenerative diseases.Following the execution of the license and collaboration agreement, Cellular Biomedicine Group will sell approximately 9% of its equity to Novartis at a price of $27.43 per share, receiving $40 million in equity acquisition proceeds. Novartis will obtain global rights to Cellular Biomedicine Group’sCertainCertain royalty-free intellectual property rights related to CAR-T technology.Cellular Biomedicine Group Will receive tiered, single-digit percentage collaboration payments based on net product sales.CBMGA markup on manufacturing costs will be obtained from Novartis.Celgene will be primarily responsible for manufacturing processes, while Novartis will be primarily responsible for distribution, regulatory affairs, and commercialization in China.
“This collaboration with Novartis reflects our shared commitment to bringing Kymriah, the first CAR-T cell therapy to market, to China, where the number of patients in need remains the highest globally. Kymriah is currently a transformative treatment approved in the United States, the European Union, and Canada for two hard-to-treat cancers.”Celularity“Chief Executive Officer Liu Bizuo stated, ‘We aim to collaborate with Novartis to bring the first CAR-T cell therapy to patients in China. Furthermore, we remain focused on developing CBMG’s portfolio of immuno-oncology assets.’”
“Novartis is committed to bringing new hope to children and adults suffering from malignant blood cancers who currently have limited treatment options. We are honored to collaborate with CBMG in China to enhance our Kymriah manufacturing capabilities and increase the likelihood of providing this innovative, single-use therapy safely and seamlessly to patients in need,” said Pascal Touchon, Senior Vice President and Global Head of the Cell and Gene Therapy Division at Novartis Oncology.
