Novartis Offers to Buy CellforCure From LFB Group
December 20 2018 - 11:43AM
Dow Jones News
By Anthony Shevlin
Novartis AG (NOVN.EB) said Thursday it made an offer to acquire
France's CellforCure from LFB Group in an effort to expand
manufacturing capacity for innovative cell and gene therapies.
The Swiss company said the proposed acquisition builds on an
existing agreement with CellforCure for contract manufacturing of
Novartis's CAR-T cell therapy Kymriah and the recent transfer of
technology.
If successful, the acquisition would bolster CAR-T cell therapy
manufacturing capacity with the potential to expand to other cell
and gene therapies and Novartis' pipeline, the company said.
CAR-T therapy works by removing patients' white blood cells,
re-engineering them, and then reinfusing them into the bloodstream.
The cells are reprogrammed to identify and attack cancer cells.
The deal, if successful, is expected to close in the first half
of next year and is expected to be funded through available cash,
Novartis said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
December 20, 2018 11:28 ET (16:28 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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