Kite Pharma, Inc., a Los Angeles, CA-based biopharmaceutical company focused on developing innovative active immunotherapies for cancer, has raised $15m in an initial round of financing.
The round was led by TPG Capital.
The company intends to use the funds to advance its products into clinical development and to expand its pre-clinical pipeline.
In conjunction with the financing, Mr. David Bonderman, a founding partner of TPG Capital has joined Kite’s Board of Directors.
Led by President and CEO Aya Jakobovits, Ph.D., and Arie Belldegrun, M.D., FACS, Executive Chairman and Founder, the company is engaged in the design and development of immunotherapeutic products to treat different cancer indications. Kite’s lead products include antigens associated with a wide variety of tumor types, and are initially being developed for the treatment of renal cell carcinoma and hepatocellular carcinoma.
These potential therapies are designed to stimulate a patient’s own immune system to help fight cancer and could represent novel strategies for the management and treatment of these otherwise incurable diseases.