Oxford BioMedica, Novartis colaborate
Novartis will pay $14 million upfront, including a $4.3 million equity subscription for a non-exclusive worldwide development and commercialization license in oncology under the group's LentiVector platform. OXB will manufacture lentiviral vectors expressing CTL019/CART-019. The manufacturing contract has an initial three year term.
Additionally, OXB has granted Novartis an exclusive license for the worldwide development and commercialization of all Chimeric Antigen Receptor (CAR) T cell products arising from the process development collaboration.
OXB is eligible to receive up to $90 million from Novartis over the next three years. This amount includes the upfront license payment, the equity investment, manufacturing and process development services and various performance incentives. OXB also will receive undisclosed royalties on potential future sales of CTL019 and other CAR T cell products covered by the agreement.