Wednesday, May 15, 2013
Kite Pharma Raises $35M
Los Angeles-based Kite Pharma, a biotechnology company developing immunotherapies for cancer, said today that it has raised $35M in its Series A funding round. The firm said that the funding came from Alta Partners, David Bonderman, Pontifax Ltd., Commercial Street Capital, and Michael Milken, along with its founder, Arie Belldegrun. Kite Pharma said the round included $20M in new funding plus conversion of $15M in outstanding promissory notes.
Farah Champsi of Alta Partners, and Ran Nussbaum of Pontifax join the company's board with the funding. Kite said it is developing a novel cancer immunotherapeutic product, focused on engineered autologous T cell therapy (eACT).More information »