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Freshfields advises Novartis on its exclusive license agreement with Legend Biotech

Freshfields advises Novartis on its license agreement with Legend Biotech for the exclusive worldwide rights to develop, manufacture and commercialize certain chimeric antigen receptor T-cell (CAR-T) cell therapies targeting DLL3, including Legend Biotech’s autologous CAR-T cell therapy candidate, LB2102. Legend Biotech will receive a $100 million upfront payment and will be eligible to receive up to $1.01 billion in clinical, regulatory and commercial milestone payments and tiered royalties. Closing of the transaction is subject to the parties’ receipt of any necessary consents or approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

The Freshfields team was led by partner Adam Golden and included partner Jan Rybnicek, special counsel Charles Ramsey, and associates Sora Park and Dylan O’Connor.

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