Kite Pharma, Inc. Completes $50 Million Mezzanine Private Financing - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

Kite Pharma, Inc. Completes $50 Million Mezzanine Private Financing

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Kite Pharma, Inc.

-Proceeds to Support Advancement of Clinical Programs in Cancer Immunotherapy -

SANTA MONICA, Calif., April 28, 2014 /PRNewswire/ -- 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.

Dr. Arie Belldegrun, M.D., Kite's President and Chief Executive Officer, commented, "We are pleased that our current private financing has attracted such a distinguished group of new investors, in addition to the continued support of our existing investors.  These commitments will help further accelerate our pipeline programs based on our broadly enabling platform in cancer immunotherapy."

About Kite Pharma
Kite Pharma, Inc., is a privately held clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a primary focus on eACT™ designed to restore the immune system's ability to recognize and eradicate tumors.  In partnership with the NCI Surgery Branch through a Cooperative Research and Development Agreement (CRADA), Kite is advancing a pipeline of proprietary eACT™ product candidates, both CAR (chimeric antigen receptor) and TCR (T cell receptor) products, directed to a wide range of cancer indications.  Kite's management team has a proven track record of building successful biotechnology companies and successfully developing novel immunotherapies and other oncology treatments.  Kite is based in Santa Monica, CA.

Kite Contact:
Cynthia M. Butitta
Chief Financial Officer and Chief Operating Officer
310-824-9999

For Media: Justin Jackson
For Investor Inquiries: Kimberly Minarovich
Burns McClellan
(212) 213-0006
jjackson@burnsmc.com
kminarovich@burnsmc.com

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow

News Channel 25 KXXV-TV
P.O. Box 2522
Waco, TX 76702

Phone Numbers:
Main: 254-754-2525
Tip Line: 254-757-2525

Links
Contact Us
KXXV Employment Opportunites
FCC Filings
Advertise on KXXV

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KXXV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.