Novartis strikes deal with Chinese firm to make Kymriah [Reuters]
CELLULAR BIOMEDICINE GROUP INC (CBMG)
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Source: Reuters
Novartis strikes deal with Chinese firm to make Kymriah | Reuters 3 Min Read ZURICH, Sept 27 (Reuters) - Novartis has enlisted Chinese manufacturer Cellular Biomedicine (CBMG) to make its $475,000 gene-modifying cancer treatment Kymriah as the Swiss drugmaker intends to win approval for the therapy in the world’s most populous country. The Chinese company’s shares rose more than 16 percent in pre-market trading after the deal was announced on Thursday. Novartis shares closed 0.9 percent higher. Basel-based Novartis is paying $40 million to buy 9 percent of CBMG’s shares, the Chinese company said. Novartis also gets rights to develop and sell products using CBMG technology in the deal. The deal fits Novartis’ push to expand its global manufacturing footprint for Kymriah, a one-time, personalised CAR-T therapy in which doctors remove disease fighting T-cells from individual patients to be modified to attack cancer before being re-infused into patients. Novartis recently announced produc
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