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Nanjing Legend Biotech Plans to Raise $350 Million in US IPO at $2.6 Billion Valuation

publication date: Jun 1, 2020

As Nanjing Legend Biotech moves toward its NASDAQ IPO, it has set a proposed range of $18-$20 per ADS for the offering, which would raise $350 million and value Legend at $2.6 billion. In 2017, Legend surprised the world when its anti-BCMA CAR-T therapy produced a 94% overall response rate in pretreated multiple myeloma patients. Six months later, Janssen Pharma paid $350 million upfront to partner the candidate. Janssen has added another $110 million in milestones so far, and it could make up to $1.3 billion in remaining payments. More details....

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