Santa Monica-Based Biotech, Kite Pharma, Raises $50M in New Financing

Proceeds to Support Advancement of Clinical Programs in Cancer Immunotherapy

From Kite Pharma:

Kite Pharma, Inc. (Kite), a clinical-stage biopharmaceutical company focused on developing engineered autologous T cell therapy (eACT™) products for the treatment of cancer, today announced the completion of a $50 million mezzanine private financing of convertible notes. Participants in the transaction included a syndicate of healthcare-dedicated investors, many of which are based in the United States and are first-time investors in Kite. Additional terms of the financing were not disclosed.

Kite expects to use proceeds of the financing to advance its programs developing novel cancer immunotherapy products. Kite’s lead investigational therapy is an autologous eACT™ product that targets CD19 expression on B cell malignancies, including diffuse large B cell lymphoma (DLBCL). Additional programs will target a number of both hematological malignancies and solid tumors…

READ FULL PRESS RELEASE [web]
FierceBiotech – Immuno-oncology specialist Kite adds $50M in new financing [web]
Kite Pharma [web]

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