Kite Completes Acquisition of Tmunity
February 22 2023 - 09:00AM
Business Wire
Kite, a Gilead Company (NASDAQ: GILD), today announced the
completion of the previously announced transaction to acquire
Tmunity Therapeutics (Tmunity), a clinical-stage, private biotech
company focused on next-generation CAR T-therapies and
technologies.
The acquisition of Tmunity complements Kite’s existing in-house
cell therapy research capabilities by adding additional pipeline
assets, platform capabilities, and a strategic research and
licensing agreement with the University of Pennsylvania (Penn). It
will provide Kite with access to pre-clinical and clinical
programs, including an ‘armored’ CAR T technology platform, which
potentially could be applied to a variety of CAR T’s to enhance
anti-tumor activity, as well as rapid manufacturing processes. In
addition, as part of the acquisition, the Tmunity founders, who
remain in their roles at Penn, will also provide consulting
services to Kite as senior scientific advisors.
University of Pennsylvania Relationship
The University of Pennsylvania’s Carl June, Bruce Levine, James
Riley, Anne Chew were each individual equity holders in Tmunity and
are now paid scientific advisors to Kite. Penn was also an equity
holder in Tmunity. Penn received sponsored research funding from
Tmunity, and now will receive sponsored research funding from Kite
following today’s close. As inventors of some of the licensed
technology, Drs. June, Levine, Riley, and Chew, along with Penn,
may receive additional financial benefits under the license in the
future.
About Kite
Kite, a Gilead Company, is a global biopharmaceutical company
based in Santa Monica, California, focused on cell therapy to treat
and potentially cure cancer. As the global cell therapy leader,
Kite has treated more patients with CAR T-cell therapy than any
other company. Kite has the largest in-house cell therapy
manufacturing network in the world, spanning process development,
vector manufacturing, clinical trial supply and commercial product
manufacturing. For more information on Kite, please visit
www.kitepharma.com. Follow Kite on social media on Twitter
(@KitePharma) and LinkedIn.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has
pursued and achieved breakthroughs in medicine for more than three
decades, with the goal of creating a healthier world for all
people. The company is committed to advancing innovative medicines
to prevent and treat life-threatening diseases, including HIV,
viral hepatitis and cancer. Gilead operates in more than 35
countries worldwide, with headquarters in Foster City, California.
Gilead Sciences acquired Kite in 2017.
Gilead Forward-looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including risk that Gilead and Kite may not realize the expected
benefits of this transaction, including the ability of Kite to
further advance assets acquired from Tmunity through the strategic
research and licensing agreement with Penn or otherwise;
difficulties or unanticipated expenses in connection with the
acquisition and the integration; the potential effect of any of the
foregoing on Gilead and Kite’s earnings; and any assumptions
underlying any of the foregoing. These and other risks,
uncertainties and other factors are described in detail in Gilead’s
Quarterly Report on Form 10-Q for the quarter ended September 30,
2022, as filed with the U.S. Securities and Exchange Commission.
These risks, uncertainties and other factors could cause actual
results to differ materially from those referred to in the
forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. The reader is cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and is cautioned not to place undue
reliance on these forward-looking statements. All forward-looking
statements are based on information currently available to Gilead
and Kite, and Gilead and Kite assume no obligation and disclaim any
intent to update any such forward-looking statements.
Kite, the Kite logo and GILEAD are trademarks
of Gilead Sciences, Inc. or its related companies.
For more information on Kite, please visit the
company’s website at www.kitepharma.com. Follow Kite on social
media on Facebook, Twitter (@KitePharma), LinkedIn and YouTube.
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version on businesswire.com: https://www.businesswire.com/news/home/20230222005588/en/
Kite Contacts: Investors: Jacquie Ross
investor_relations@gilead.com
Media: Tracy Rossin trossin@kitepharma.com
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