Novartis envisions the drug, the first oral monotherapy for PNH, as a “pipeline in a pill” that could see $3bn in peak sales, with a Phase III readout in IgAN in October and one in C3G expected this month.

Experts see allogeneic CAR-Ts as less likely to carry potential risks of T-cell malignancies, and an opportunity for differentiation against the crowded autologous CD19-directed CAR-T space.

The German drug maker is spending CHF450m to acquire T3, which is focused on developing live bacteria to treat cancers.

The drug maker will spend up to $610m to acquire Caraway, with a lead product candidate targeting TRPML1, a pathway implicated in a number of neurodegenerative diseases.

The company plans to file for FDA approval in the first half of 2024 as it eyes a market of about 40,000 adult and pediatric patients in the US.

The amendment to a December 2022 deal expands their myeloma CAR-T partnership and will see development of CART-ddBCMA in lymphomas, where research indicates anti-BCMA therapy has activity.