Oxford BioMedica has revealed today that it has signed a deal potentially worth more than $100m (£77.1m) with Novartis for the supply of material for its new cell therapy, CTL019.
The contract involves the supply of lentiviral vectors used to generate CTL019, a new kind of treatment for hard-to-treat leukaemia that is expected to reach the market this year.
A U.S. advisory panel is scheduled to discuss the case for approving CTL019 at a meeting on July 12 and Novartis has already designated the treatment as a potential blockbuster.
The company, which already has a deal with Novartis, will receive $10 million up front as part of the new deal and could earn another $100 million over the next three years.
“The new deal with Novartis will strengthen the group’s balance sheet immediately and will support the group’s continued growth over the next three years,” Oxford Biomedical CEO John Dawson said today in a statement.
