By Chris Wack

 

Legend Biotech Corp. said it achieved a $50 million milestone under its collaboration agreement with Janssen Biotech Inc. for ciltacabtagene autoleucel, now marketed in the U.S. under the brand name Carvykti.

Cilta-cel is a B-cell maturation antigen-directed chimeric antigen receptor T-cell therapy.

Legend Biotech said it agreed with Janssen to develop, manufacture and commercialize cilta-cel for the treatment of multiple myeloma. Legend Biotech received an upfront payment of $350 million and is entitled to receive additional payments upon achievement of landmarks for development, production performance, regulatory and sales.

The global agreement specifies a 50-50 cost and profit-sharing agreement in all markets, excluding greater China, where the split is 70% for Legend and 30% for Janssen.

Including the $50 million payment, Legend has achieved $300 million in milestone payments during the collaboration.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

April 21, 2022 09:13 ET (13:13 GMT)

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