Ahead of US IPO, Leg­end Biotech adds $150M, top-tier in­vestors to back CAR-T pipeline

Last month Nan­jing Leg­end Biotech re­vealed that it sees, and was qui­et­ly plan­ning for, a fu­ture as a pub­lic com­pa­ny in the US, sep­a­rate but still tied to its for­mer par­ent, Chi­nese CRO Gen­Script. It’s ev­i­dent­ly a vi­sion that en­ticed in­vestors, draw­ing mar­quee names for a pre-IPO round.

The Se­ries A fetched a whop­ping $150.5 mil­lion from Hud­son Bay Cap­i­tal Man­age­ment, Lil­ly Asia Ven­tures, Vi­vo Cap­i­tal, RA Cap­i­tal Man­age­ment and JJDC, the ven­ture arm of J&J. The phar­ma gi­ant has helped fund Leg­end’s CAR-T work with the $350 mil­lion up­front pay­ment it hand­ed over to part­ner on the lead BC­MA pro­gram.

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