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High on the heels of its agreement with Daiichi in Japan Kite KITE Pharma Inc. entered into a joint venture with China-based Fosun Pharmaceutical Co. Ltd. to develop and commercialize medicine against kite cancer in China.
The 50-50 joint venture will be registered in Shanghai, and the benefits will be shared 40-60 ratio between Kite and Fosun, respectively Kite will receive an upfront payment of 40 million Fosun, as well as regulatory and commercial milestones on the basis of payments totaling $ 35 million.
In addition, Kite will receive royalties on average sales to single digits for the sale of its lead drug axicabtagene ciloleucel KTE experimental C19 for the treatment of B-cell lymphomas and leukemias in China.
Fosun Pharma will also provide the equivalent of 20 million renminbi kite in initial funding to support the clinical development and manufacturing activities, while Kite provide certain services technology transfer to the joint venture.
Kite Pharma-C19 is KTE therapy receiver basic chimeric CAR T cell antigen, a new stream of treatments against cancer developed by kite and other drug manufacturers against cancer For more, see Is -what these therapies against cancer Pay.
CAR-T processing mechanism involves extracting cells of the immune system of the patient's body, making them, and then infusing them back into the patient's body to identify and destroy cancer cells.
KTE-C19 is the T-Cell Kite drug for which announced 250 million partnership with Japan-based Daiichi Sankyo Co Ltd to develop and market cancer therapies in Japan For more, see Kite 250M inks deal with Daiichi cancer.
In addition to the initial development of KTE-C19, the Chinese joint venture will also have licensing options for other products RCA stable future Kite These comprise the drug human papillomavirus kite KITE-439 and solid tumor treatment, KITE-718 the redemption option and milestone payments for these two additional drugs should raise more than 140 million profit sharing and unique way of royalties on sales figures for Kite Pharma.
These recent transactions continue to set milestones for success Kite CAR-T therapy California-based Santa Monica, has four new cancer drugs in development programs For more, see Kite Pharma unveils 4 new clinical programs, including Kite- 718, for which it recently filed a new drug application with the FDA IND for more, see Kite Pharma Files to launch Trial drugs against cancer.
Kite Gets Chinese partner for the CART therapy (KITE) Investopedia, kite, obtained Chinese.