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Oxford BioMedica plc (LSE: OXB), (“OXB” or “the Group”) a leading gene and cell therapy company, announces today that it has signed further contracts with Novartis 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 commercialisation licence 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 commercialisation of all Chimeric Antigen Receptor (CAR) T cell products arising from the process development collaboration.
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Source: First word pharma