NeoStem Announces Expanded Cell Therapy Manufacturing Relationship With Kite Pharma
April 20 2015 - 7:30AM
NeoStem, Inc. (Nasdaq:NBS), a biopharmaceutical company developing
novel cell-based individualized medicine therapies, announced today
the expansion of manufacturing services under an existing Services
Agreement between its wholly-owned subsidiary, PCT, and Kite
Pharma, Inc. (Nasdaq:KITE) (Kite), a clinical-stage
biopharmaceutical company focused on developing engineered
autologous T cell therapy (eACT™) products for the treatment of
cancer.
Under the terms of the original agreement, PCT and its center of
excellence for cell therapy process development, engineering and
manufacturing, provided development and manufacturing services for
Kite's lead eACT™ clinical development program. These services
included technology transfer, process development, qualification
and implementation of the manufacturing process. Under the expanded
Services Agreement, Kite will receive these services through
increased facilities and personnel at PCT's Mountain View, CA
location that are contractually dedicated to Kite.
"We look forward to continuing our mutually beneficial
partnership with Kite and to offering manufacturing service for the
important cell therapy that they plan to advance toward the
commercial market," said Dr. Robert A. Preti, Chief Scientific
Officer of NeoStem and President of PCT. "The expansion of
NeoStem's arrangement with Kite allows us to grow our Mountain View
facility and to continue providing innovative, reliable and high
quality manufacturing expertise to cell therapy developers who are
researching potentially life-changing treatments for patients
across many therapeutic areas."
"We are pleased that we have expanded our relationship with Kite
and look forward to continuing to provide them with premium
specialized immunotherapy manufacturing services. This
arrangement with Kite will serve as a model for future
collaborations between PCT and its clients," said Dr. David J.
Mazzo, NeoStem's Chief Executive Officer. "We have valued
PCT's expertise, manufacturing facilities, and services, and we
look forward to a continued productive relationship with them,"
said Dr. Arie Belldegrun, Chairman, President and Chief Executive
Officer of Kite.
About NeoStem, Inc.
NeoStem is a biopharmaceutical company pursuing the preservation
and enhancement of human health globally through the development of
novel cell based individualized medicine therapeutics that prevent,
treat or cure disease. The Company is developing therapies based on
three platform technologies (immune-oncology, ischemic repair and
immunomodulation) with a lead, late-stage clinical program for
each. The combination of a rich therapeutics pipeline and an
externally recognized in-house center for cell therapy process
development and manufacturing has created an organization with
unique capabilities for accelerated and efficient product
development. www.neostem.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to the successful execution of the
Company's business strategy, the Company's ability to develop and
grow its business, the successful development of cellular therapies
with respect to the Company's research and development and clinical
evaluation efforts in connection with the Company's Targeted
Immunotherapy Program, Ischemic Repair Program, Immune Modulation
Program and other cell therapies, the future of the regenerative
medicine industry and the role of stem cells and cellular therapy
in that industry, and the performance and planned expansion of the
Company's wholly-owned subsidiary and its center of excellence for
cell therapy process development, engineering and manufacturing,
PCT, as well as its efforts to expand its capabilities into the
cell therapy tools market. The Company's actual results could
differ materially from those anticipated in these forward-looking
statements as a result of various factors. Factors that could cause
future results to materially differ from the recent results or
those projected in forward-looking statements include the "Risk
Factors" described in the Company's Annual Report on Form 10-K
filed with the Securities and Exchange Commission ("SEC") on March
2, 2015, and in the Company's other periodic filings with the SEC.
The Company's further development is highly dependent on future
medical and research developments and market acceptance, which is
outside of its control.
CONTACT: NeoStem, Inc.
Eric Powers
Manager of Communications and Marketing
Phone: +1-212-584-4173
Email: epowers@neostem.com
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