Cellular Bio to Manufacture Novartis CAR-T Drug in China in $40 Million Deal
publication date: Sep 28, 2018
Cellular Biomedicine will provide China manufacturing services for a Novartis CAR-T cell therapy, Kymriah®. Novartis will buy $40 million of CBMG stock, while CBMG will manufacture the individual doses of the therapy at a profit and be paid royalties. Novartis will retain China marketing rights and also receive rights to some CBMG technologies for CAR-T manufacturing. Kymriah, which was approved in the US one year ago to treat acute lymphoblastic leukemia, is not yet approved for use in China. More details....
Stock Symbols: (NSDQ: CBMG) (NYSE: NVS)
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