Janssen moves into CAR-T space via Chinese deal

In a move that takes it into the fast expanding chimeric antigen receptor (CAR) T-cell space, in which it has so far been conspicuously absent, Janssen Biotech, a subsidiary of US healthcare giant Johnson & Johnson (NYSE: JNJ), announced  a licensing deal with Chinese drug developers.

Janssen has entered into a worldwide collaboration and license agreement with Legend Biotech USA and Legend Biotech Ireland, subsidiaries of Hong Kong, China-headquartered Genscript Biotech Corporation (HKG: 1548), to develop, manufacture and commercialize a CAR T-cell drug candidate, LCAR-B38M, which specifically targets the B-cell maturation antigen (BCMA). News of the deal on Friday saw Genscript shares rocket 31.64% to HK$21.30.

LCAR-B38M is currently accepted for review by the China Food and Drug Administration (CFDA) and in the planning phase of clinical studies in the United States for multiple myeloma.