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Legend Biotech May Have Received a Takeover Bid; Stock Price Climbs

publication date: Jul 15, 2024

Legend Biotech, a Nanjing-New Jersey cell therapy company, was rumored to have received a takeover bid and may have signed up a financial advisor, presumably Centerview Partners, to advise the company on the deal. Meanwhile, GenScript, a CDMO that founded Legend and continues to hold a 52% stake in the company, said it had no knowledge of the takeover. On Friday, the company’s NASDAQ stock price rose 12% without any official news. Legend partners the global rights to its lead CAR-T therapy, Carvykti® (ciltacabtagene autoleucel) with Janssen Pharma, a subsidiary of Johnson & Johnson. More details....

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