Business history
In March 2011, Kite Pharma received $15 million in Series A venture cash.[38]
In May 2013, Kite Pharma completed a $35 million financing of Series A preferred stock.[39][40][41]
In April 2014, Kite Pharma completed a $50 million mezzanine private financing of convertible notes.[42][43]
In May 2014, Kite Pharma filed a registration with the SEC for an initial public offering (IPO) of its common stock.[44]
In June 2014, Kite Pharma sold 8,625,000 shares of its common stock in their IPO at $17.00 per share, for gross proceeds of $146.6 million.[45][46][47] The company listed on the NASDAQ Global market under the symbol “KITE.”
In December 2014, Kite Pharma sold 4,007,750 shares of it common stock in their follow-on offering at $54.00 per share, for gross proceeds of $216.4 million.[48]
In March 2015, Kite Pharma acquired T-Cell Factory (TCF), a privately held biotechnology company based in the Netherlands, for €20 million and renamed it – Kite Pharma EU. Per the deal, Kite Pharma has obtained license agreements with IBA GmbH, Sanquin Blood Supply Foundation and the Netherlands Cancer Institute (NKI), which include the rights to select new intellectual property related to T-cell receptors (TCRs) developed at the NKI. Additionally, the TCF acquisition will allow Kite Pharma to access the European manufacturing facilities, paving way for the company to initiate development programs in the EU and build its presence in the region.[49][50]
In December 2015, Kite Pharma sold 4,168,750 shares of its common stock in a public offering at $69.00 per share, for gross proceeds of $287.6 million.[51]
In January 2017, Kite Pharma announced that it has partnered with Daiichi Sankyo Co Ltd to develop and commercialize its cancer treatment therapy in Japan, putting the U.S. company in line to receive up to $250 million in payments, of the $250 million, Kite said it would receive $50 million as upfront payment.[52] Also in January, Kite Pharma announced that it had formed a joint venture with Fosun Pharmaceutical to develop and commercialize its cancer treatment in China. Kite Pharma said it would receive an upfront payment of $40 million from the joint venture, funded by Fosun Pharma as well as regulatory and commercial milestones totaling $35 million.[53]
On August 28, 2017, Gilead Sciences announced that it would purchase Kite Pharma for US$11.9 billion in cash ($180.00 per share).[54] The purchase was subsequently completed for the announced price on October 3, 2017.[55][56]
The company has primary leading manufacturing facilities in El Segundo, CA next to Los Angeles International airport and Amsterdam, Netherlands to support US, Canada, Australia and European markets. Kite is in the process of coordinating additional manufacturing capacity from its recent expansion into Urbana, Maryland facility as of 2023 as a strategic center that could accommodate same-day service to both California and Netherlands manufacturing operations.[57]
In February 2023, the business completed its acquisition of Tmunity Therapeutics[58]
In September 2024, Kite Pharma announced it would sell its 50% stake in the joint venture to Fosun Pharmaceutical for $27 million.[59]
