$40 million equity investment in CBMG by Novartis

$40 million equity investment in CBMG, a clinical-stage biopharmaceutical firm engaged in the development of immunotherapies for cancer and stem cell therapies for degenerative diseases, by Novartis AG, a Swiss multinational pharmaceutical company based in Basel. Novartis acquired 1,458,257 shares at $27.43/share. “This collaboration with Novartis reflects our shared commitment to bringing the first marketed CAR-T cell therapy Kymriah, a transformative treatment option currently approved in the United States, European Union and Canada for two difficult-to-treat cancers, to China where the number of patients in need remains the highest in the world,” said Tony Liu, Chief Executive Officer, CBMG. “Together with Novartis, we hope to bring the first CAR-T cell therapy to patients in China. In addition, we continue to focus on developing CBMG’s pipeline of immuno-oncology assets.”