The officials of Gilead Sciences and Kite Pharma have announced today that the companies have entered into an agreement that will enable the Gilead Sciences to acquire Kite for an approximate amount of $11.9 billion or $180 in cash per share.
Kite Pharma, being a leader in cell therapy have developed engineered cell therapies that express either a chemical antigen receptor (CAR) or an engineered T cell receptor (TCR) depending on the type of cancer. The most advanced therapy candidate of Kite is axicabtagene ciloleucel (axi-cel) is a CART therapy. This therapy is under priority review by US FDA.
Once reviewed, this therapy is expected to be a treatment option for refractory aggressive non-Hodgkin lymphoma that includes DLBCL (diffuse large B-cell lymphoma), TFL (transformed follicular lymphoma and PMBCL (Primary mediastinal B-cell lymphoma.
The tentative date set by US FDA is November 29, 2017, under the Prescription Drug User Fee Act (PDUFA). By Acquiring Kite makes Gilead a leader in cellular therapy.
John F. Milligan, PhD, Gilead’s President and Chief Executive Officer said in a press release, ““The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers. The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients. We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer. Our similar cultures and histories of driving rapid innovation in order to bring more effective and safer products to as many patients as possible make this an excellent strategic fit.”