Legend Biotech, a clinical stage oncology biotech being spun-out of GenScript's cell therapy unit, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Legend's extensive pipeline contains lead candidate LCAR-B38M/JNJ-4528, a CAR-T therapy being developed with Janssen Biotech for the treatment of multiple myeloma. It is in the process of enrolling patients for a Phase 2 clinical trial in China and is in a Phase 1b trial in the US and Japan.
The Somerset, NJ-based company was founded in 2014 and booked $57 million in revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol LEGN. Legend Biotech filed confidentially on March 9, 2020. Morgan Stanley, J.P. Morgan and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
