Hogan Lovells is advising Novartis, a global healthcare company, in a strategic licensing and collaboration agreement with Cellular Biomedicine Group, Inc. (CBMG), to manufacture and supply the CAR-T cell therapy Kymriah® (tisagenlecleucel) in China. CBMG is a clinical-stage biopharmaceutical firm engaged in the development of immunotherapies for cancer and stem cell therapies for degenerative diseases.
Under the terms of the licensing and collaboration agreement, CBMG will receive US$40 million in an equity purchase from Novartis at US$27.43/share for approximately 9% equity. Novartis will receive certain royalty-free intellectual property worldwide rights to certain CBMG CAR-T related technology. CBMG will receive a single-digit escalating percentage collaboration payment based on net product sales. CBMG will receive a mark-up from Novartis on the manufacturing cost. CBMG will take the lead in the manufacturing process, and Novartis will be the exclusive holder of the marketing license and lead distribution, regulatory and commercialization efforts in China.
The Hogan Lovells team advising Novartis was led by New York Corporate partner Adam Golden (Picture). He was assisted by partner William Intner, senior associates Erin Howell and Nicholas Hoover, associate Jeffrey Jay ,and law clerk Summer Yuan on corporate matters. The Hogan Lovells team in Shanghai was led by partner Andrew McGinty. He was assisted by associate Qing Lyu and junior associate Kate Chen.
Involved fees earner: Adam Golden – Hogan Lovells; William Intner – Hogan Lovells; Erin Howell – Hogan Lovells; Nicholas Hoover – Hogan Lovells; Andrew McGinty – Hogan Lovells; Jeffrey Jay – Hogan Lovells; Kate Chen – Hogan Lovells; Qing Lyu – Hogan Lovells;
Law Firms: Hogan Lovells;