For more information about the acquisition, read the orginial story below.
Source: BioNTech press release
BioNTech Set to Acquire Neoantigen TCR Cell Therapy R&D Platform and Manufacturing Facility from Kite
BioNTech has announced entering into a purchase agreement with Kite to acquire its solid tumour neoantigen TCR R&D platform and clinical manufacturing facility.Earlier this week, BioNTech – a next generation immunotherapy company – announced a purchase agreement with Kite - a global biopharmaceutical company – to acquire the solid tumour neoantigen TCR R&D platform and clinical manufacturing facility in Gaithersburg, MD.
The acquired facility will provide capacity to support US clinical trials, complementing BioNTech’s existing European facility in Germany.
The facility will also reportedly support the development of BioNTech’s expanding cell therapy pipeline, including cancer product candidates and based on its CAR-T Cell amplifying mRNA vaccine (CARVac) and NEOSTIM platforms as well as the newly acquired individualized neoantigen TCR program.
As Ugur Sahin, CEO and Co-founder of BioNTech, explained:
“The development of individualized cancer therapies is at the core of our work at BioNTech. The acquisition of the Kite facility and its individualized TCR platform allows us to accelerate the clinical development of our cell therapies in the US and advance at the forefront of individualized cell therapies. It also strengthens our presence in the US, building on our successful integration of adoptive T-cell and neoantigen TCR therapies as part of our acquisition of Neon Therapeutics last year.”
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A BioNTech press release states that all employees of the Gaithersburg facility will be offered employment with BioNTech, and that further recruitment will be necessary to support the growing portfolio.
Christi Shaw, CEO of Kite, added:
Under the terms of the agreement, BioNTech has committed to a one-time payment to Kite, to acquire the indiviualised solid tumour neoantigen TCR discovery platform as well as the Gaithersburg R&D and clinical manufacturing facility. The financial terms of the agreement have not been disclosed.
“In order to serve more patients that need cell therapy today, Kite is rapidly growing both through global expansion and seeking new indications for our existing approved CAR T-cell therapies. This transaction will enable us to focus our energies and investment on accelerating the reach of our current CAR T-cell therapies and midterm pipeline. As a company solely focused on cell therapy for over a decade, our approach to solid tumours and allogeneic cell therapy will progress through a combination of both internal research and external partnerships as we are an excellent partner for likeminded companies that share our vision of the power of CAR T-cell therapy to create better outcomes for patients.”
Source: BioNTech press release