Gilead’s Kite to acquire CAR T-therapies developer Tmunity Therapeutics
Kite, an arm of Gilead Sciences, has agreed to acquire Tmunity Therapeutics, a Philadelphia-based clinical-stage biotech company focused on next-generation CAR T-therapies and technologies, for an undisclosed amount.
Under the agreement, Kite will acquire all the shares of Tmunity Therapeutics, which it already doesn’t own.
The acquisition aligns with Kite’s current in-house cell therapy research expertise through additional pipeline assets and platform capabilities.
The transaction provides Kite with rapid manufacturing processes, ‘armored’ CAR T technology platform, and access to certain future innovations via a sponsored research and license agreement with the University of Pennsylvania, which holds an equity interest in Tmunity Therapeutics.
Founded in 2015, Tmunity Therapeutics was set up to advance the academic world’s cell therapy research and innovation into the clinic to produce new treatments.
Christi Shaw — Kite CEO said: “The Kite team is thrilled to be joining forces with the researchers at Tmunity who are rapidly advancing cell therapy research from the labs into the clinic through their unique partnership with the University of Pennsylvania.”
Tmunity Therapeutics will spin out prostate-specific membrane antigen and prostate stem cell antigen assets, which are not part of the Kite acquisition.
Individual stakeholders of Tmunity Therapeutics include the company’s founders Drs. Carl June, James Riley, Bruce Levine, and Anne Chew who will become paid scientific advisors to Kite upon the completion of the transaction.
Tmunity Therapeutics’ other major investors include Westlake Village Biopartners, Andreessen Horowitz, Gilead Sciences, Parker Institute for Cancer Immunotherapy, Kleiner Perkins, Resilience, Crystal South, Lilly Asia Ventures, Be The Match, and, the American Cancer Society’s philanthropic impact fund – BrightEdge.
Anticipated to complete in the first quarter of 2023, the deal is subject to waiting period expiration or termination and other customary closing conditions.