{"id":399574,"date":"2020-12-15T06:03:08","date_gmt":"2020-12-15T11:03:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399574"},"modified":"2020-12-15T06:03:08","modified_gmt":"2020-12-15T11:03:08","slug":"allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/","title":{"rendered":"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li>Allogene Overland Biopharm, a First-of-its-Kind Collaboration in Allogeneic Cell Therapy, Is Dedicated to Making AlloCAR T\u2122 Available to Patients in Greater China, Taiwan, South Korea and Singapore<\/li>\n<li>The Joint Venture Provides An Opportunity to Accelerate the Global Development of AlloCAR T Therapies for Hematologic Malignancies and Solid Tumors<\/li>\n<li>Overland, Backed by Hillhouse Capital, to Invest $117 Million in Capital, Which Includes an Upfront Payment to Allogene and Financial Support to Joint Venture Operations <\/li>\n<\/ul>\n<p>SOUTH SAN FRANCISCO, Calif. and BOSTON and SHANGHAI, China, Dec.  15, 2020  (GLOBE NEWSWIRE) &#8212; Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T\u2122) therapies for cancer, and Overland Pharmaceuticals (\u201cOverland\u201d), a premier biopharmaceutical company backed by Hillhouse Capital, today announced the formation of Allogene Overland Biopharm (Allogene Overland). The joint venture will focus on the development, manufacturing and commercialization of AlloCAR T therapies for patients in greater China, Taiwan, South Korea and Singapore. Allogene Overland will have an exclusive license to develop, manufacture and commercialize specific Allogene candidates targeting BCMA, CD70, FLT3, and DLL3 in the licensed territories. The joint venture will also seek opportunities to advance the global development of AlloCAR T therapies against these targets.<\/p>\n<p>\u201cWe are excited to be the first allogeneic cell therapy company to establish a joint venture in China dedicated to making the potential benefits of an off-the-shelf cell therapy available to patients in China and other Asian Pacific markets,\u201d said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. \u201cWe\u2019re looking forward to joining forces with Overland to build a leading cell therapy company focused on helping to accelerate the development of AlloCAR T therapies for blood cancers and solid tumors.\u201d<\/p>\n<p>\u201cOverland has a strong operational presence in China backed by the Hillhouse Capital global biopharmaceutical ecosystem. Combined with Allogene\u2019s domain expertise, this positions Allogene Overland Biopharm to bring these important new therapies to patients and physicians fighting cancer across Asia and around the world,\u201d said Hua Mu, M.D., Ph.D., Co-Founder, Interim Chief Executive Officer and Chief Medical Officer of Overland Pharmaceuticals.<\/p>\n<p>\u201cAllogene has an established track record of success in the design, manufacture and development of innovative cell therapies,\u201d added Ed Zhang, M.B.A., Co-Founder, Chief Operating Officer and Chief Business Officer of Overland Pharmaceuticals. \u201cTogether, we establish a broad strategic partnership and will jointly move forward the development and global expansion of this cutting-edge technology platform.\u201d<\/p>\n<p>Under the terms of the agreement, Allogene Overland will receive an exclusive license to AlloCAR T candidates directed at four targets, BCMA, CD70, FLT3, and DLL3, in the licensed territories. Overland will invest $117 million in capital, which includes an upfront payment of $40 million to Allogene and $77 million in capital to support joint venture operations. Overland and Allogene are the sole equity holders in Allogene Overland. Allogene will be eligible to receive a milestone payment per product for each first regulatory approval in China, as well as tiered royalties on net sales. Overland will provide development and operational support while Allogene will provide technical and manufacturing expertise. Allogene Overland will be governed by a Board of Directors with equal representation from Overland and Allogene.<\/p>\n<p>Allogene has an exclusive license to the Cellectis technology for its allogeneic products and holds all global development and commercial rights for these investigational candidates.<\/p>\n<p>\n        <strong>About Overland Pharmaceuticals<\/strong><br \/>\n        <br \/>Overland Pharmaceuticals is building a fully integrated biopharma company with a mission to bring innovative medicines to underserved patients in Asia and around the world. By leveraging our resources, global network, and local expertise across the biopharma ecosystem in Asia, Overland is establishing a portfolio of differentiated therapeutic candidates in a few carefully selected therapeutic areas. Through\u00a0formative partnerships, Overland will move forward the development and commercialization of the most promising advances in medicine.<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-VrzqhNchzrzqls43kdpbsdx7ilp-SomDqBfJWaupPLX4yTwAU4yVnI5C0AvsHhxcCPReapj3mDjdMt56ESMPfcoSIOwMdsUi28oqip9BZs=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.overlandpharma.com<\/a><\/p>\n<p>\n        <strong>About Allogene Therapeutics<\/strong><br \/>\n        <br \/>Allogene Therapeutics, with headquarters in\u00a0South San Francisco, is a clinical-stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T cell (AlloCAR T\u2122) therapies for cancer. Led by a management team with significant experience in cell therapy, Allogene is developing a pipeline of \u201coff-the-shelf\u201d CAR T cell therapy candidates with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients. For more information, please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uzdCg2ZOXuxUJCd3DPt5yes3xHcIHEwzTQZ4G_upiuFeOt5hzBzR1DUHu2uNZPIOPF5eHezxKzVII2ip7q65Iw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.allogene.com<\/a>, and follow @AllogeneTx on Twitter and LinkedIn.<\/p>\n<p>\n        <strong>Cautionary Note on Forward-Looking Statements for Allogene<\/strong><br \/>\n        <br \/>This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The press release may, in some cases, use terms such as &#8220;predicts,&#8221; &#8220;believes,&#8221; &#8220;potential,&#8221; &#8220;proposed,&#8221; &#8220;continue,&#8221; &#8220;estimates,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;plans,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should&#8221; or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the ability of the joint venture company to establish subsidiaries and operations in China and other Asian Pacific markets; the ability of the joint venture company to progress clinical trials, manufacture, or commercialize AlloCAR T therapies in China and other Asian Pacific markets; the potential for and ability to receive any payments from the joint venture company; and the potential benefits of AlloCAR T therapies. Various factors may cause differences between Allogene\u2019s expectations and actual results as discussed in greater detail in Allogene\u2019s filings with the\u00a0SEC, including without limitation in its Form 10-Q for the quarter ended\u00a0September 30, 2020. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Allogene assumes no obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.<\/p>\n<p>AlloCAR T is a trademark of Allogene Therapeutics, Inc.<\/p>\n<p>\n        <strong>Allogene Media\/Investor Contact:<\/strong><br \/>\n        <br \/>Christine Cassiano<br \/>Chief Communications Officer<br \/>(714) 552-0326<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2o2u9ygyXJv1pHXlDH1VGvBuq0Kjo7CrP1w9bndj0mWwLpDR62DnFs0gYCID61vmhPZtnoaWpDIcs_-PDDeunqx3IoCrkRKTI-JQbCbJOBQ-bxGfP3n7w_Szvcrijwpl\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Christine.Cassiano@allogene.com<\/a><\/p>\n<p>\n        <strong>Overland Pharmaceuticals Media Contact:<\/strong><br \/>\n        <br \/>Kari Watson or Madeline Davidshofer<br \/>MacDougall <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=539wHGJOux05QMUTf7InSiJVRfD8OiIOARQDsVp49xTjStUY9-9BdvX68N_Ke6qhntPRFG2bwyoYTdddwCAAKRi_-3_mlYYV_zmB0saxj0U=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">kwatson@macbiocom.com<\/a> or mdavidshofer@macbiocom.com<br \/>781-235-3060<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMjE4MCMzODgxMjkyIzIxMjQyNDc=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/22defe85-87e2-410e-8194-af258b5e2e17\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Allogene Overland Biopharm, a First-of-its-Kind Collaboration in Allogeneic Cell Therapy, Is Dedicated to Making AlloCAR T\u2122 Available to Patients in Greater China, Taiwan, South Korea and Singapore The Joint Venture Provides An Opportunity to Accelerate the Global Development of AlloCAR T Therapies for Hematologic Malignancies and Solid Tumors Overland, Backed by Hillhouse Capital, to Invest $117 Million in Capital, Which Includes an Upfront Payment to Allogene and Financial Support to Joint Venture Operations SOUTH SAN FRANCISCO, Calif. and BOSTON and SHANGHAI, China, Dec. 15, 2020 (GLOBE NEWSWIRE) &#8212; Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T\u2122) therapies for cancer, and Overland Pharmaceuticals (\u201cOverland\u201d), a premier biopharmaceutical company backed by Hillhouse &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-399574","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Allogene Overland Biopharm, a First-of-its-Kind Collaboration in Allogeneic Cell Therapy, Is Dedicated to Making AlloCAR T\u2122 Available to Patients in Greater China, Taiwan, South Korea and Singapore The Joint Venture Provides An Opportunity to Accelerate the Global Development of AlloCAR T Therapies for Hematologic Malignancies and Solid Tumors Overland, Backed by Hillhouse Capital, to Invest $117 Million in Capital, Which Includes an Upfront Payment to Allogene and Financial Support to Joint Venture Operations SOUTH SAN FRANCISCO, Calif. and BOSTON and SHANGHAI, China, Dec. 15, 2020 (GLOBE NEWSWIRE) &#8212; Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T\u2122) therapies for cancer, and Overland Pharmaceuticals (\u201cOverland\u201d), a premier biopharmaceutical company backed by Hillhouse &hellip; Continue reading &quot;Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-15T11:03:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMjE4MCMzODgxMjkyIzIxMjQyNDc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies\",\"datePublished\":\"2020-12-15T11:03:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/\"},\"wordCount\":1015,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExMjE4MCMzODgxMjkyIzIxMjQyNDc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\\\/\",\"name\":\"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/","og_locale":"en_US","og_type":"article","og_title":"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies - Market Newsdesk","og_description":"Allogene Overland Biopharm, a First-of-its-Kind Collaboration in Allogeneic Cell Therapy, Is Dedicated to Making AlloCAR T\u2122 Available to Patients in Greater China, Taiwan, South Korea and Singapore The Joint Venture Provides An Opportunity to Accelerate the Global Development of AlloCAR T Therapies for Hematologic Malignancies and Solid Tumors Overland, Backed by Hillhouse Capital, to Invest $117 Million in Capital, Which Includes an Upfront Payment to Allogene and Financial Support to Joint Venture Operations SOUTH SAN FRANCISCO, Calif. and BOSTON and SHANGHAI, China, Dec. 15, 2020 (GLOBE NEWSWIRE) &#8212; Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T\u2122) therapies for cancer, and Overland Pharmaceuticals (\u201cOverland\u201d), a premier biopharmaceutical company backed by Hillhouse &hellip; Continue reading \"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-15T11:03:08+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMjE4MCMzODgxMjkyIzIxMjQyNDc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies","datePublished":"2020-12-15T11:03:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/"},"wordCount":1015,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMjE4MCMzODgxMjkyIzIxMjQyNDc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/allogene-therapeutics-and-overland-pharmaceuticals-form-joint-venture-in-greater-china-to-develop-and-commercialize-allocar-t-cell-therapies\/","name":"Allogene Therapeutics and Overland Pharmaceuticals Form Joint Venture in Greater China to Develop and Commercialize AlloCAR T\u2122 Cell Therapies - 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