By Chris Wack

Legend Biotech said its Legend Biotech Ireland subsidiary has entered into an exclusive, global license agreement for LB2102 with Novartis Pharma AG for certain Legend Biotech chimeric antigen receptor T-cell cell therapies targeting Delta-like ligand protein 3.

The license agreement grants Novartis the exclusive worldwide rights to develop, manufacture and commercialize these cell therapies, and Novartis may apply its T-Charge platform to their manufacture.

Legend Biotech is initiating clinical development of LB2102 for the treatment of extensive stage small-cell lung cancer and large cell neuroendocrine carcinoma after the U.S. Food and Drug Administration cleared its investigational new drug application in 2022. In 2023, the FDA granted the product candidate Orphan Drug Designation, a status conferred to drugs or biologics that are intended to treat, diagnose or prevent rare diseases and conditions.

Under the license agreement, Legend Biotech will conduct a Phase 1 clinical trial for LB2102 in the U.S. Novartis will conduct all other development for the licensed products.

Legend Biotech will receive a $100 million upfront payment and will be eligible to receive up to $1.01 billion in clinical, regulatory and commercial milestone payments and tiered royalties.

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

(END) Dow Jones Newswires

November 13, 2023 09:01 ET (14:01 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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