BioWorld Today: Financings Roundup-- Kite Pharma Inc.
May 16, 2013 - BioWorld Today
Kite Pharma Inc.
Kite Pharma Inc., of Los Angeles, said it closed a $20 million private placement of shares of its Series A preferred stock. In addition, the company converted $15 million in outstanding promissory notes into shares of Series A preferred stock. Kite is developing cancer immunotherapeutic products with a focus on engineered autologous T-cell therapy. Last year, the company entered a Cooperative Research and Development Agreement with the National Cancer Institute for the development and commercialization of engineered peripheral blood autologous T-cell therapeutics for the treatment of multiple cancer indications. Those personalized and targeted immunotherapies are aimed at providing signifi cant and durable clinical benefi t regardless of tumor origin, disease stage and prior treatments.