Ying Huang, Legend CEO

Leg­end rais­es $200M from pri­vate in­vestor af­ter con­fer­ence leaks PhI­II Carvyk­ti da­ta

A day af­ter a leaked da­ta pre­sen­ta­tion show­ing pos­i­tive Phase III re­sults for Leg­end Biotech’s CAR-T treat­ment Carvyk­ti, the com­pa­ny said it has raised $200 mil­lion in a pri­vate stock sale, based on the strength of the da­ta.

Leg­end is part­nered with John­son & John­son on the cell ther­a­py, which is al­ready ap­proved as a fifth-line treat­ment for mul­ti­ple myelo­ma. Da­ta from the tri­al showed that Carvyk­ti was as­so­ci­at­ed with a 74% re­duc­tion in the risk of mul­ti­ple myelo­ma pro­gres­sion or death.

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