Novartis signs manufacturing deal for Kymriah in China

Cellular Biomedicine Group Inc. (NASDAQ:CBMG) has agreed to manufacture and supply Kymriah tisagenlecleucel in China for Novartis AG (NYSE:NVS; SIX:NOVN). The pharma said the deal will help it gain market access in China for the CAR T therapy. Cellular Biomedicine has three Chinese GMP facilities in Shanghai, Beijing and Wuxi.

Novartis will invest $40 million for a 9% stake in Cellular Biomedicine through the purchase of 1.5 million shares at $27.43. Cellular Biomedicine CEO and CFO Tony Liu told BioCentury his company will be reimbursed for direct supply costs plus an undisclosed mark-up fee. It will be eligible for single digit royalties...