SANTA MONICA, Calif.– 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.
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.
