Legend Biotech Raises $150.5 Million in Series A Preferred Financing To Advance its Oncology Pipeline and Platform

Apr 01, 2020

Somerset, NJ, April 1, 2020 – Legend Biotech Corporation (Legend), a global, clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, announced today that it has raised $150.5 million in Series A financing. Proceeds from the financing will be used to advance the research and development and commercialization of Legend’s pipeline programs and expansion of manufacturing facilities, enhancement of its research and development platform, as well as general corporate expenses.

New investors included Hudson Bay Capital Management LP, Johnson & Johnson Innovation – JJDC, Inc., Lilly Asia Ventures, Vivo Capital, RA Capital Management and other large, reputable institutional investor. Morgan Stanley Asia Limited and Jefferies Hong Kong Limited advised Legend in this transaction.

About Legend Biotech
Legend Biotech is a global, clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. Legend Biotech has functional sites in the United States, Europe, and mainland China.

Cautionary Note Regarding Forward-Looking Statements
This information constitutes forward-looking statements relating to the business of Legend, including statements relating to the planned use of proceeds from the Series A preferred financing. Such forward-looking statements reflect the current views of Legend’s management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, Legend’s expectations could be affected by, among other things, uncertainties involving the development of new pharmaceutical products; unexpected or negative results from clinical trials, unexpected or negative regulatory actions or delays, ; Legend’s ability to obtain or maintain patent or other proprietary intellectual property protection; competition in the oncology space and in general; government, industry, and other political pressures, and inherent uncertainties regarding the global economy as a result of the ongoing COVID-19 pandemic. Should one or more of these risks or uncertainties materialize, or should Legend’s underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.

The safety and efficacy of the product candidates and/or uses under investigation have not been established. There is no guarantee that the product candidates will receive health authority approval or become commercially available in any country for the uses being investigated.

The information in this press release speaks only as of the date hereof. Legend assumes no duty to update the information to reflect subsequent developments. Readers should not rely upon the information on this page as current or accurate after its publication date.

Media contact:
Deborah Wong, Executive Director, Strategic Marketing, Legend Biotech
deborah.wong@legendbiotech.com or media@legendbiotech.com
Investor Relations contact:
Jessie Yeung, Head of Corporate Finance and Investor Relations, Legend Biotech
jessie.yeung@legendbiotech.com or investor@legendbiotech.com


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