SOMERSET, NJ–(BUSINESS WIRE)–Legend Biotech Corporation (NASDAQ:LEGN) (Legend Biotech), a global biotechnology company that develops, manufactures and markets novel therapies to treat life-threatening diseases, was named Newcomer of the Year at the tenth annual Foreign Investment Trophy ceremony organized by Flanders Investment & Trade (FIT).
Flanders Investment and Trade is a Flemish government organization that facilitates investment projects in Flanders, a region in northern Belgium, and supports Flemish businesses. The Foreign Investment Trophy recognizes international companies with investment projects in Flanders, and the FIT Newcomer of the Year award goes to organizations that have recently embarked on substantial investment projects in the region.
Legend Biotech earned this honor for its joint investment in a state-of-the-art manufacturing facility in Flanders with Janssen Pharmaceutica NV (Janssen). The cell therapy facility is the first-ever cell therapy manufacturing site located in Flanders and will serve as a regional hub for the companies’ cell therapy production for patients in Europe, the Middle East and Africa.
The 26,000 square meter manufacturing facility is part of Legend’s collaboration with Janssen to advance the manufacturing of ciltacabtagene autoleucel (cilta-cel), a B-cell maturation antigen-directed CAR-T therapy currently in development. assessment for the treatment of relapsed or refractory multiple myeloma by the European Medicines Agency. In April 2019, cilta-cel was granted PRIME (Priority Medicines) designation. PRIME offers enhanced interaction and early dialogue with promising drug developers to optimize drug development plans and accelerate the evaluation of cutting-edge scientific advances that target a significant unmet medical need.
The European manufacturing center is expected to come online in 2023 and will be managed by Legend Biotech.
While accepting the award in Belgium, Ying Huang, PhD, CEO and CFO of Legend Biotech said, “This award is special recognition of our investment in Flanders, one of Europe’s most exciting biotech hubs. Europe. The Newcomer of the Year award marks how far we have come since Legend’s inception in applying cell therapy to rare and uncommon diseases. We look forward to advancing this goal and playing a meaningful role in the Ghent ecosystem for years to come. »
About Legend Biotech
Legend Biotech is a global biotechnology company dedicated to treating and, one day, curing life-threatening diseases. Based in Somerset, New Jersey, we develop advanced cell therapies on a wide range of technology platforms, including autologous and allogeneic chimeric antigen receptors, T-cell receptors (TCR-Ts) and T-cells. natural killers (NK). based immunotherapy. From our three R&D sites around the world, we apply these innovative technologies to pursue the discovery of safe, effective and cutting-edge therapies for patients around the world.
About Flanders Investment & Trade
Flanders Investment & Trade (FIT) actively promotes sustainable international trade in Flanders as a key element in the socio-economic development of the region. FIT accomplishes this by supporting Flanders-based companies in their international business ventures and attracting foreign investors. FIT assists companies across Flanders in their international endeavors and provides personalized advice and support. Businesses can tap into the agency’s local and international contact networks, while the FIT also offers financial support and information on available financial incentives.
Caution Regarding Forward-Looking Statements
Statements in this press release regarding future expectations, plans and prospects, and any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI™, including Legend Biotech’s expectations for CARVYKTI™, such as Legend Biotech’s manufacturing and marketing expectations for CARVYKTI™ and the potential effect of treatment with CARVYKTI™; statements regarding submissions of cilta-cel to the United States Food and Drug Administration (FDA), the European Medicines Agency (EMA), the China Center for Drug Evaluation of the National Medical Products Administration ( CDE) and other regulatory authorities; the expected timing and ability to progress clinical trials, including patient recruitment; submitting Investigational New Drug (IND) applications to regulatory authorities and maintaining such applications with regulatory authorities; the ability to generate, analyze and present clinical trial data; and the potential benefits of Legend Biotech’s product candidates. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, ” predict”, “project”, “should”, “target”, “shall”, “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results may differ materially from those indicated by these forward-looking statements due to a variety of important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties related to the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or data analysis, or government regulation generally; unforeseen delays as a result of actions taken or inaction by our third-party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including uncertainties related to the litigation process in the United States; competition in general; government, industry and public awards and other political pressures; the duration and severity of the COVID-19 pandemic and the governmental and regulatory measures put in place in response to the evolving situation; as well as the other factors discussed in the “Risk Factors” section of Legend Biotech’s Annual Report filed with the Securities and Exchange Commission on April 2, 2021. Should one or more of these risks or uncertainties materialize, or if the assumptions under underlying data prove incorrect, actual results may differ materially from those described in this press release as anticipated, believed, estimated or expected. All forward-looking statements contained in this press release speak only as of the date of this press release. Legend Biotech specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.