Novartis inks collaboration for CAR-T therapy in China
Cellular Biomedicine (Nasdaq: CBMG) saw its shares rocket 16.6% to $23.55 in pre-market trading, after it revealed it had entered into a strategic licensing and collaboration agreement with Swiss pharma giant Novartis (NOVN: VX) to manufacture and supply the CAR-T cell therapy Kymriah (tisagenlecleucel) in China. Novartis will be the exclusive holder of the marketing license.
In August last year, Novartis won the race to market the CAR T-cell-directed therapy, receiving US Food and Drug Administration approval for its Kymriah. In Europe, the drug received approval in August this year.
Novartis to make $40 million equity investment
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