Allogene Overland will have an exclusive license for specific Allogene candidates targeting BCMA, CD70, FLT3, and DLL3 in greater China, Taiwan, South Korea, and Singapore. The joint venture will also seek opportunities to advance the global development of AlloCAR T therapies against these targets.

Allogene is developing the off-the-shelf AlloCAR T therapies for cancer.

Under the agreement, Allogene Overland will receive an exclusive license to the four AlloCAR T candidates in the licensed territories. Overland will invest $117 million in capital, including 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 also 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 and Allogene will provide technical and manufacturing support.