• Legend to re­ceive an up­front pay­ment of $350 mil­lion, as well as addi­tional devel­op­ment, pro­duc­tion per­for­mance, regu­la­tory and sales mile­stone pay­ments
• Legend and Janssen to co-develop and co-promote CAR T-cell ther­apy for mul­ti­ple myeloma
• Profits and costs to be shared 50/50 world­wide, ex­clu­sive Greater China where 70 per­cent to Legend and 30 per­cent to Janssen

Nanjing, China (Press Release) – Legend Biotech, a sub­sid­i­ary of GenScript Biotech Corpo­ra­tion (HKEx: 1548) that de­vel­ops inno­va­tive CAR T-cell immuno­therapy targeting mul­ti­ple myeloma, an­nounced to­day it has executed a stra­te­gic col­lab­o­ration agree­ment to jointly de­vel­op and com­mer­cial­ize the LCAR-B38M based prod­ucts with Janssen Biotech, Inc. ("Janssen").

According to the terms of the agree­ments, the com­pa­nies have agreed to jointly share the devel­op­ment, pro­duc­tion and com­mer­cial­iza­tion ac­­tiv­i­ties, with a 50/50 profit-loss sharing agree­ment for the world-wide mar­ket excluding Greater China. Legend Biotech and Janssen enters a 70/30 profit-loss sharing agree­ment for Greater China mar­ket. Legend Biotech will re­ceive an up­front pay­ment of $350 mil­lion from Janssen, and will be eli­gible for addi­tional pay­ments upon devel­op­ment, pro­duc­tion per­for­mance, regu­la­tory and sales mile­stones.

"This is a very im­por­tant mile­stone for Legend Biotech. LCAR-B38M is the first CAR-T ac­cepted for re­view by the national Health Authority CFDA in China. We are very pleased to work with Janssen to co-develop and co-commercialize the prod­uct world­wide. Janssen, is a lead­ing pharma­ceu­tical com­pany which has a proven track-record to estab­lish­ suc­cess­ful col­lab­o­ration and bring trans­forming ther­a­pies into the mar­ket. We look for­ward to work­ing with Janssen to trans­form the mul­ti­ple myeloma ther­a­pies and bring hopes to mul­ti­ple myeloma patient world­wide." said Frank Zhang, Ph.D., Chairman of Legend Biotech.

About LCAR-B38M

LCAR-B38M is a type of bi-epitope Chimeric Antigen Receptor T-cell (CAR-T) immuno­therapy devel­oped by Legend Biotech Corpo­ra­tion. Au­tol­o­gous T cells isolated from patients can be ge­net­ic­ally engi­neered to express bi-epitope chi­meric an­ti­gen re­cep­tors on their surface, so that allows the au­tol­o­gous T cells to spe­cif­i­cally recog­nize and bind the two epitopes on BCMA mol­e­cule that is a bio­­marker of mul­ti­ple myeloma (MM). Therefore the au­tol­o­gous ge­net­ic­ally engi­neered T cells are able to spe­cif­i­cally identify and kill the MM can­cer cells.

About Legend Biotech Corpo­ra­tion

Legend Biotech is a sub­sid­i­ary of GenScript Biotech Corpo­ra­tion (HKEx: 1548), with its global presence in the United State, Hong Kong, Ireland and Nanjing China. Legend Biotech engages and concentrates on the con­struc­tion of CAR T-cell ther­apy plat­form, and it has built up its own pro­pri­e­tary in­tel­lec­tual prop­er­ty position. Its LCAR-B38M based prod­ucts have dem­onstrated out­stand­ing over­all re­sponse rate (ORR) in a series of pre-clinical stud­ies treating re­frac­tory mul­ti­ple myeloma. At present, around 140 employees globally located have been com­mitting in con­tin­uous re­search and devel­op­ment process aiming to provide revolutionary CAR T-cell ther­a­pies to can­cer patients.

About GenScript Biotech Corpo­ra­tion

Genscript Biotech Corpo­ra­tion (HKEx: 1548) serves as a part­ner for re­searchers in basic life sciences, trans­la­tional and biomedical fields as well as early-stage drug devel­op­ment, the diverse port­folio of GenScript encompasses extensive services in gene synthesis and molecular biology, peptide synthesis, pro­tein ex­pres­sion and engi­neer­ing, custom anti­body devel­op­ment and engi­neer­ing, in vitro/in vivo pharmacology as well as variety of catalogue prod­ucts. Two other business divisions, under the brand name of Bestzyme Biotech and Legend Biotech engaged in Industrial Enzymes and CAR T-Cell Immunotherapy re­spec­tive­ly have both made rapid progress and break­­through in their re­spec­tive­ business devel­op­ment.

Source: GenScript.