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Nanjing Legend Approved for $100 Million US IPO on NASDAQ

publication date: May 14, 2020

Nanjing Legend Biotech will stage a $100 million US IPO on the NASDAQ exchange. In 2017, Legend announced its CAR-T therapy produced a 94% overall response rate in pretreated multiple myeloma patients. Within six months, Janssen Pharma paid $350 million upfront for a 50-50 partnership of the CAR-T candidate. Since then, Janssen has paid $110 million in milestones, and it could make up to another $1.3 billion in remaining payments. Janssen and Legend expect to file for US and EU approvals of JNJ-4528 in the second half of 2020. More details....

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