Legend Biotech Makes Plans to IPO With Backing From Johnson & Johnson
Legend Biotech is looking to raise $100 million in an initial public offering. The biotech, which hopes to be listed on the Nasdaq under the ticker LEGN, is still early in the IPO process and hasn't established a price range for the shares it plans to sell.
Legend's lead molecule, LCAR-B38M/JNJ-4528, is a chimeric antigen T-cell (CAR-T) therapy targeting B cell maturation antigen (BCMA) for patients with multiple myeloma.
That's the same type of therapy, targeting the same antigen for the same disease, as idecabtagene vicleucel (ide-cel), which bluebird bio (NASDAQ: BLUE) and Bristol Myers Squibb (NYSE: BMY) are developing in partnership.
Source Fool.com
