Oxford BioMedica enters LentiVector collaboration with Novartis

UK-based Oxford BioMedica (LSE: OXB) says that it has signed further contracts with Swiss pharma giant Novartis (NOVN: VX), which build on the collaboration with Novartis announced in May 2013.

Under the terms of the new agreement, Novartis will pay $14 million upfront including a $4.3 million equity subscription for a non-exclusive worldwide development and commercialization license in oncology under the group’s LentiVector platform. OXB will manufacture lentiviral vectors expressing CTL019/CART-019. The manufacturing contract has an initial three year term. Additionally, OXB has granted Novartis an exclusive licence for the worldwide development and commercialization of all chimeric antigen receptor (CAR) T cell products arising from the process development collaboration.

OXB eligible for up to $90 million over next three years