Drug companies chase deals for cell and gene therapies, biotech’s ‘next wave’

Meanwhile, Novartis’s crosstown rival Roche Holding AG has enlisted privately held SQZ for up to $1 billion in milestone payments. SQZ created a device that constricts cells to the point where small holes are formed in their outer membranes, allowing genetic material to pass through. The powered-up cells are then able to recognize antigens on a cancer cell, prompting an immune response.