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Friday 11th of February 2022 05:52:42 AM

Legend Biotech hits two milestones under its deal with Janssen for CAR-T therapy

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  • Legend Biotech (NASDAQ:LEGN) announced the achievement of two milestones under its collaboration with Janssen Biotech of Johnson & Johnson (NYSE:JNJ) for cilta-cel.
  • Also called ciltacabtagene autoleucel, cilta-cel is an experimental B-cell maturation antigen (BCMA)-directed chimeric antigen receptor T-cell (CAR-T) therapy currently undergoing studies as a potential therapy for multiple myeloma.
  • The two milestones have triggered $50M of aggregate payments to Legend (LEGN), the company said on Friday.
  • Under the partnership between the two companies, Legend (LEGN) is entitled to milestone payments related to development, production performance, regulatory, and sales of cilta-cel.
  • In addition to $350M upfront payments, the company has achieved $250M milestone payments under the deal, including the latest payments.
  • Read: In April 2021, Janssen announced the submission of a marketing application in Europe for cilta-cel in relapsed and/or refractory multiple myeloma.

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