Novartis Pullback Fuels Doubts on Novel CAR-T Cancer Therapy
- Juno, Kite drop after Novartis’s move to fold unit, cut jobs
- ‘Data on CAR-T has never been better,’ Juno CEO says
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Novartis AG’s decision to fold a unit that was working on a novel cancer therapy casts doubt on other companies that are betting on what’s seen as one of the most exciting approaches to fighting the disease.
In a surprise move Wednesday, the Swiss drugmaking giant, a champion of the experimental therapy known as CAR-T, said research related to it would no longer be housed in a separate division, leading to 120 job cuts mostly in the U.S.