Janssen, Legend partner for BCMA CAR T

The Janssen Biotech Inc. unit of Johnson & Johnson (NYSE:JNJ) partnered with the Legend Biotech USA Inc. and Legend Biotech Ireland Ltd. subsidiaries of Genscript Biotech Corp. (HKSE:1548) to jointly develop and commercialize Legend's LCAR-B38M to treat multiple myeloma worldwide. The product is a chimeric antigen receptor (CAR) T cell therapy targeting BCMA (TNF receptor superfamily member 17; TNFRSF17; CD269).

Legend will receive $350 million up front and is eligible for undisclosed milestones. Janssen and Legend will split costs and profits equally worldwide, except in Greater China where they will split 30/70, respectively...