Biotech upstart Kite Pharma made its Wall Street debut Friday, pulling off an upsized IPO on the strength of investor fervor over a novel, headline-making approach to treating cancer.
Just days after GlaxoSmithKline barreled into a new cancer drug pact targeting the hot T-cell receptor field and a lead program at Adaptimmune, one of the pioneering rivals in the arena has partnered on similar work at the National Cancer Institute.
Can a fledgling biotech still plotting early-stage studies of its cutting-edge cancer drug technology mount a successful IPO by mapping a radically short trip to the FDA?
Kite Pharma says it has raised a whopping $50 million from a group of private investors to back its work on new T cell treatments for cancer.
Los Angeles-based biotech startup Kite Pharma has locked in $20 million in a private placement with its new investor Alta Partners and previous backers. By converting $15 million in previous promissory notes to stock, the company has increased the first-round financing to $35 million.
LA-based Kite Pharma, a fledgling biotech that has set out to develop new cancer vaccine therapies, has raised $15 million in Series A venture cash. The company will use the funding to support
LA-based Kite Pharma, a fledgling biotech that has set out to develop new cancer vaccine therapies, has raised $15 million in Series A venture cash. David Bonderman, a founding partner of TPG Capital