Nov. 13 Quick Takes: Legend finds next CAR partner in Novartis

Novartis AG (SIX:NOVN; NYSE:NVS) licensed worldwide rights to CAR T cell therapies targeting DLL3 from Legend Biotech Corp. (NASDAQ:LEGN) in a deal that combines the biotech’s expertise in CAR design with the pharma’s rapid manufacturing technology. Legend will receive $100 million up front and up to $1.01 billion in milestones plus tiered royalties. Legend is enrolling patients in a Phase I trial of DLL3-targeting CAR T cell therapy LB2102 using a standard manufacturing technology, and Novartis plans to run preclinical studies to support a separate IND for the product created with its T-Charge manufacturing platform. The cell therapy will be the first for a solid tumor created with the manufacturing platform.

Amsterdam-based VectorY Therapeutics B.V. announced a €129 million ($138 million) series A round co-led by EQT Life Sciences and the Forbion Growth Opportunities Fund, with participation from MRL Ventures Fund, Insight Partners, ALS Investment Fund, founding investor Forbion Ventures, BioGeneration Ventures (BGV), and another undisclosed investor. The proceeds will support clinical development of VectorY’s preclinical lead program in amyotrophic lateral sclerosis, VTx-002, an AAV-encoded antibody delivered to the central nervous system (CNS) that targets and clears misfolded and aggregated TDP-43 from the cytoplasm in neurons, restoring the target’s normal function in neuronal nuclei. ...