Novartis sets sights on Philly amid a sweeping CAR-T collaboration

Philadelphia--Courtesy visitphilly.com

Novartis ($NVS) has leased a sizable outpost in the Philadelphia suburbs, according to a local report, settling into the area as it works with University of Pennsylvania researchers on a promising new approach to treating cancer. The company's new building is an 88,000-square-foot office space in King of Prussia, according to the Philadelphia Business Journal, whose sources say Novartis is moving in with aims of acquiring a local outfit. Meanwhile, in nearby University City, Novartis is working with Penn on therapies that re-engineer a patient's T cells to create cancer treatments called CAR-Ts, and the drugmaker has earmarked $20 million to help construct a 30,000-square-foot research center on campus. More

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