GenScript Biotech Corporation (HKG: 1548), a Contract Research Organization (CRO) based in China, has announced that it has received a total of USD 410 million in milestone payments from Janssen Biotech, a subsidiary of Johnson & Johnson (J&J, NYSE: JNJ). These payments are part of a licensing agreement with its subsidiary Legend Biotech Corporation (NASDAQ: LEGN) and relate to the BCMA-targeted chimeric antigen receptor T cell (CAR-T) therapy, Carvykti (ciltacabtagene autoleucel). The milestone payments were made on various dates between December 17, 2018, and May 13, 2024, and are based on the product’s achievements. Additionally, the company received another USD 30 million milestone payment in a recent transaction.- Flcube.com
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