Gilead plans to finance the transaction with a combination of cash on hand, bank debt and senior unsecured notes. Kite and Gilead will have exclusive rights to develop and commercialize therapies based on these targets or antibodies. But what Gilead saw this year gave Milligan the confidence to buy Kite Pharma, one of CAR-T's leaders, in a $11.9 billion deal that drew instant comparisons to … Skadden, Arps, Slate, Meagher & Flom is serving as legal counsel to Gilead and Sullivan & Cromwell LLP and Cooley LLP are serving as legal counsel to Kite. The consummation of the tender offer is subject to various conditions, including a minimum tender of at least a majority of outstanding Kite shares on a fully diluted basis, the expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act, and other customary conditions. "From the release of our pivotal data for axi-cel, to our potential approval by the FDA, this is a year of milestones. Kite Pharma, Inc. KITE announced the acquisition of a privately held Netherlands-based biotechnology company, T-Cell Factory B.V. (TCF). Gilead has paid $11.9 billion to make Kite a wholly owned subsidiary. … Dig Deeper. Kite Pharma’s largest acquisition to date was in 2017, when it acquired Cell Design Labs for $567M. The KITE acquisition will spur a number of acquisitions … The company has developed engineered cell therapies that express either a chimeric antigen receptor (CAR) or an engineered T cell receptor (TCR), depending on the type of cancer. FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction for Dodgers Merger Sub, Inc., a wholly-owned subsidiary of Gilead (“Purchaser”), to acquire Kite Pharma, Inc. (Nasdaq: KITE) for $180 per share, net to the seller in cash, without interest, or approximately $11.9 billion in the aggregate. This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, related to Gilead, Kite and the acquisition of Kite by Gilead that are subject to risks, uncertainties and other factors. The Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, will be sent to all stockholders of Kite at no expense to them. Kite is dedicated to achieving one of the most ambitious goals of 21st century medicine: curing cancer. All forward-looking statements are based on information currently available to Gilead and Kite, and Gilead and Kite assume no obligation and disclaim any intent to update any such forward-looking statements. Our goal is to fundamentally change the way people think about cancer treatment by pushing the boundaries of what is possible with cell therapy — using genetically modified immune cells to target tumors. Kite is a biopharmaceutical company engaged in the development of innovative cancer immunotherapies with a goal of providing rapid, long-term, durable response and eliminating the burden of chronic care. A marketing authorization application (MAA) has also been filed for axi-cel for the treatment of relapsed/refractory DLBCL, TFL and PMBCL with the European Medicines Agency (EMA), representing the first submission in Europe for a CAR T therapy. This submission comes after positive results from Kite's ZUMA-1 pivotal trial with axi-cel in patients with chemorefractory aggressive non-Hodgkin lymphoma. Risks and uncertainties that could cause the actual results to differ from expectations contemplated by forward-looking statements include: uncertainties as to the timing of the tender offer and merger; uncertainties as to how many of Kite's stockholders will tender their stock in the offer; the possibility that competing offers will be made; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effects of the transaction (or the announcement thereof) on relationships with employees, customers, other business partners or governmental entities; transaction costs; the risk that the merger will divert management's attention from Gilead's or Kite's ongoing business operations, as the case may be; and other risks and uncertainties detailed from time to time in the companies' periodic reports filed with the Securities and Exchange Commission, including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, as well as the Schedule 14D-9 to be filed by Kite and the Schedule TO and related tender offer documents to be filed by Gilead and Dodgers Merger Sub, Inc., a wholly owned subsidiary of Gilead. A solicitation and an offer to buy shares of Kite will be made only pursuant to an offer to purchase and related materials that Gilead intends to file with the U.S. Securities and Exchange Commission. At 8:00 a.m. Eastern Time today, Gilead's management will host a conference call and a simultaneous webcast to discuss the transaction. The Company’s most targeted sectors include life … Forward-looking statements include, without limitation, statements regarding the business combination; its effect on Gilead's revenues and earnings; the commercial success of Kite's products; approval of axi-cel by the FDA; approval of axi-cel by the EMA; the ability of Gilead to advance Kite's product pipeline, including axi-cel; the anticipated timing of clinical data; the possibility of unfavorable results from clinical trials; filings and approvals relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction in a timely manner or at all; difficulties or unanticipated expenses in connection with integrating the companies; and the accuracy of any assumptions underlying any of the foregoing. Kite has a portfolio of proprietary product candidates designed to stimulate the patient's own immune system to fight tumor cells. With the addition of Kite’s CAR T and TCR cellular therapy platforms, we believe that together we can bring that same kind of innovation to cancer. To access the phone replay, please call 1-855-859-2056 (U.S.) or 1-404-537-3406 (international) and dial the conference ID 77187238. Kite Pharma, then trading at about $55, was among them. The acquisition of Kite Pharma by Gilead Sciences, originally announced in August 2017, was completed this month. There's still money in the bank. Gilead has completed its $11.9 billion landmark acquisition of Kite Pharma, as the pharma switches focus from hepatitis C to cancer and revolutionary CAR-T therapies. It started with the late 2017 acquisition of Kite Pharma for $11.9 billion. For more information on cell therapy and Kite Pharma, see www.kitepharma.com. Gilead Sciences (NASDAQ: GILD) announced on Monday that it was acquiring Kite Pharma (NASDAQ: KITE) for $11.9 billion. © 2020 Gilead Sciences, Inc. All rights reserved. The company is engaged in developing engineered cell therapies that express either a chimeric antigen receptor (CAR) or a T cell receptor (TCR), depending on the type of cancer. The FDA has set a target action date of November 29, 2017 under the Prescription Drug User Fee Act (PDUFA). To say the Read More. Kite Pharma is a division of Gilead Sciences based in California. The company's mission is to advance the care of patients suffering from life-threatening diseases. Kite's most advanced therapy candidate, axicabtagene ciloleucel (axi-cel), is a CAR T therapy currently under priority review by the U.S. Food and Drug Administration (FDA). "The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers," said John F. Milligan, PhD, Gilead's President and Chief Executive Officer. Under the terms of the merger agreement, a wholly-owned subsidiary of Gilead will promptly commence a tender offer to acquire all of the outstanding shares of Kite's common stock at a price of $180.00 per share in cash. For more information on Kite, please visit www.kitepharma.com. In an Aug. 28 research report, Maxim Group took a look at Gilead Sciences Inc.'s (GILD:NASDAQ) plans to acquire Kite Pharma (KITE:NASDAQ), "an industry leader in the emerging field of cell therapy," as described by analyst Jason Kolbert.The former "is acquiring all of the outstanding shares of common stock at a price of $180 per share in cash" and "plans to … Through that acquisition, Gilead gained hepatitis C therapies that are among the world’s top-selling drugs. KEI notes that Kite reported spending $317 million in R&D from 2012 to June 30, 2017, and is … Kite Pharma ist ein US-amerikanisches, biopharmazeutisches Arzneimittel-Unternehmen, das sich mit der Entwicklung innovativer Krebs-Immuntherapien (u. a. CAR-T-Zell-Therapie) beschäftigt.Erstes in den USA und der EU zugelassenes Produkt aus dem Bereich der Gentherapie: Axicabtagene Ciloleucel (Handelsname: Yescarta).. Im Oktober 2017 gab Gilead Sciences bekannt, Kite Pharma … KITE Gains On Acquisition News . Kite is an industry leader in the emerging field of cell therapy, which uses a patient's own immune cells to fight cancer. Gilead Sciences caught an upgrade Thursday following its Kite Pharma buyout and the likelihood its new CAR-T cancer medications will allow it to diversify away … The $180.00 per share acquisition price represents a 29 percent premium to Kite's closing on Friday, August 25, and a 50 percent premium to the company's 30-day volume weighted average stock price. Investors had long waited for the big biotech to make a deal. Additional Information and Where to Find It. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the Commission's web site at www.sec.gov. Gilead Completes Acquisition of Kite Pharma Gilead Sciences has completed the acquisition of Kite Pharma and is proud to officially welcome Kite’s more than 700 talented employees to the Gilead organization – for further details on the acquisition, click here. Alternatively, please call 1-877-359-9508 or 1-224-357-2393 (international) and dial the conference ID 77187238 to access the call. Free copies of these materials and certain other offering documents will be made available by Gilead by mail to Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, CA 94404, attention: Investor Relations, by phone at 1-800-GILEAD-5 or 1-650-574-3000, or by directing requests for such materials to the information agent for the offer, which will be named in the Tender Offer Statement. We are excited that Gilead, one of the most innovative companies in the industry, recognized this value and shares our passion for developing cutting-edge and potentially curative therapies for patients," said Arie Belldegrun, MD, FACS, Chairman, President and Chief Executive Officer of Kite. With Gilead's expertise and support, we hope to fulfill that potential by rapidly accelerating our robust pipeline and next-generation research and manufacturing technologies for the benefit of patients around the world. Now Gilead is betting that Kite can provide a similar payoff. Approval in Europe is expected in 2018. Gilead Sciences has completed the acquisition of Kite Pharma and is proud to officially welcome Kite’s more than 700 talented employees to the Gilead organization – for further details on the acquisition, click here. A recent analysis by GlobalData, a leading data and analytics company, identified the top 10 pharma companies by deal value for quarter 3, in 2017, revealed a number of key insights. The combined strength of Kite and Gilead allows us to remain innovative, agile, and ambitious in our mission to keep improving the lives of people with all types of cancer. FOSTER CITY, Calif. & SANTA MONICA, Calif.--(BUSINESS WIRE)-- Gilead Sciences, Inc. (Nasdaq: GILD) and Kite Pharma, Inc. (Nasdaq: KITE) announced today that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash. Transactions are recorded by the highest transaction dollar value (rather than using the inflation adjusted values). Kite Pharma has already hired 100 employees for this facility and is expecting to employ 400-700 individuals by the end of 2025. Added David Chang, M.D., Ph.D., Kite Pharma's evp, research and development and CMO: “In addition to expanding our capabilities in TCR, this acquisition is … The bio-medical company focuses on developing cancer treatments. Kite stockholders and other investors are urged to read the tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) and the Solicitation/Recommendation Statement, in each case as may be amended from time to time, because they will contain important information which should be read carefully before any decision is made with respect to the tender offer. Each and every accomplishment is a reflection of the talent that is unique to Kite. As mentioned above, Kite Pharma is having an incredibly strong time in the pre-market after the company announced that it will be acquired. Actual results may differ materially from those currently anticipated due to a number of risks and uncertainties. The Company’s most targeted sectors include life science (100%).. Join Mergr and gain access to Kite Pharma’s M&A summary, the M&A … The company’s research confirmed that the acquisition of Kite Pharma by Gilead Sciences for $11.9 billion was the biggest deal of the quarter. The company is engaged in developing engineered cell therapies that express either a chimeric antigen receptor (CAR) or a T … Gilead Sciences Statement on Recent Events in Washington, D.C. Gilead Announces New Arm of HIV Women’s Prevention Study to Evaluate the Investigational Long-Acting HIV-1 Capsid Inhibitor Lenacapavir in Addition to Descovy for PrEP®, Gilead Sciences Statement on The World Health Organization’s Updated Veklury® (Remdesivir) COVID-19 Treatment Guidelines, Gilead Sciences Statement on the Solidarity Trial, Statement from Brett Pletcher on Gilead Sciences Settlement Over Charitable Donations. Kite Pharma is a privately held development stage biotechnology company engaged in the design and development of pioneering immune-based targeted therapies to treat different cancer indications. Stay logged in to skip the surveys. Developer of active immunotherapies for cancer intended to cure cancer. Kite is based in Santa Monica, California. Following successful completion of the tender offer, Gilead will acquire all remaining shares not tendered in the offer through a second step merger at the same price as in the tender offer. Not a one-and-done acquisition. In fact, this year so far, Kite Pharma's stock is up 297.1%, which compares favorably with a 9.3% increase registered by the industry. Register for more free articles. A talent acquisition (TA) partner will review your application based on the position requirements (education, work experience and overall background) and your submitted profile. For the latest updates on our ongoing response to COVID-19, please click here. "The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients. Kite has a portfolio of proprietary product candidates designed to stimulate the patient's own immune system to fight tumor cells. Novel therapeutics developer Gilead Sciences announced plans to acquire chimeric antigen receptor T-cell (CAR-T) innovator Kite Pharma, Inc. in a deal valued at $11.9 billion. Over the past 30 years, Gilead has made significant advances that have improved the lives of people living with HIV and, over the past four years, has introduced four medicines that offer a cure for chronic hepatitis C virus. 3 Reasons to Applaud Gilead Sciences' Acquisition of Kite Pharma There's a lot to like with Gilead's buyout of cell therapy leader Kite Pharma. Kite Pharma General Information Description. Source: Streetwise Reports Gilead Completes Acquisition of Kite Pharma Gilead Sciences has completed the acquisition of Kite Pharma and is proud to officially welcome Kite’s more than 700 talented employees to the Gilead organization – for further details on the acquisition, click here. BofA Merrill Lynch and Lazard are acting as financial advisors to Gilead. Gilead Sciences, Inc. today announced the completion of the previously announced transaction for Dodgers Merger Sub, Inc., a wholly-owned subsidiary of Gilead , to acquire... | January 16, 2021 Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support View the full release here: http://www.businesswire.com/news/home/20170828005415/en/. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Kite is a leader in the emerging field of cell therapy, in which a person’s immune cells are activated to fight cancer. Gilead's and Kite's filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at www.sec.gov. Gilead has paid $11.9 billion to make Kite a wholly owned subsidiary. Research and development as well as the commercialization operations for Kite will remain based in Santa Monica, California, with product manufacturing remaining in El Segundo, California. In a bid to diversify its portfolio and boost growth, Gilead Sciences has agreed to acquire Kite Pharma, a Santa Monica, Cal­if.-based immunotherapy specialist, for $11.9 billion. On Monday, Gilead acquired KITE for $180 per share. At the time the offer is commenced, Gilead will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission, and Kite will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. August 29, 2017 August 29, 2017 Jim. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. Zacks Rank Gilead currently carries a Zacks Rank #2 (Buy). See Our Mission. The tender offer is not subject to a financing condition. A replay of the webcast will be archived on the company's website for one year, and a phone replay will be available approximately two hours following the call through August 30, 2017. For the latest updates on our ongoing response to COVID-19, please, Clinical Trials Transparency & Data Sharing Policy. For the latest updates on our ongoing response to COVID-19, please click here. Gilead has operations in more than 30 countries worldwide, with headquarters in Foster City, California. Over the past 30 years, Gilead has made significant advances that have improved the lives of people living with HIV … Kite Pharma Acquires Dutch Biotech Firm to Establish Amsterdam EHQ California biopharma company to strengthen cancer gene therapy platform through acquisition T-Cell Factory B.V. (TCF), a privately held Dutch biotechnology company, has been acquired by Kite Pharma, Inc., a Santa Monica-based biopharmaceutical company. "CAR T has the potential to become one of the most powerful anti-cancer agents for hematologic cancers. Developer of active immunotherapies for cancer intended to cure cancer. Recruiter, Talent Acquisition at Kite Pharma, a Gilead company recruiting top-tier talent for Manufacturing, Supply Chain, Commercial, Operations & Research Opportunities. Gilead Completes Acquisition of Kite Pharma. Gilead Sciences has completed the acquisition of Kite Pharma and is proud to officially welcome Kite’s more than 700 talented employees to the Gilead organization – for further details on the acquisition, click here. With Acquisition of Kite Pharma, Gilead Becomes a 'Major Player' in CAR-T Arena. ir.kitepharma.com - Gilead Sciences to Acquire Kite Pharma for $11.9 Billion Aug 28, 2017 gilead.com - Gilead Sciences to Acquire Kite Pharma for $11.9 Billion Kite Pharma has acquired in 1 US state, and 2 countries. The acquisition of Kite Pharma by Gilead Sciences, originally announced in August 2017, was completed this month. Gilead Sciences Statement on Recent Events in Washington, D.C. Gilead Announces New Arm of HIV Women’s Prevention Study to Evaluate the Investigational Long-Acting HIV-1 Capsid Inhibitor Lenacapavir in Addition to Descovy for PrEP®, Gilead Sciences Statement on The World Health Organization’s Updated Veklury® (Remdesivir) COVID-19 Treatment Guidelines, Gilead Sciences Statement on the Solidarity Trial, Statement from Brett Pletcher on Gilead Sciences Settlement Over Charitable Donations, http://www.businesswire.com/news/home/20170828005415/en/, Axi-cel approval for refractory aggressive non-Hodgkin lymphoma is expected in Q4 2017 in, Multiple development programs ongoing to broaden axi-cel utilization in earlier lines of therapy in aggressive NHL and other B-cell malignancies, Advancing additional CAR Ts to treat multiple myeloma and acute myeloid leukemia, Progressing TCRs for potential use in solid tumors, Cell therapy has generated compelling clinical data in patients for whom all other treatments have failed, Axi-cel, coupled with Kite's leading manufacturing capabilities and its portfolio of next-generation technologies and therapy candidates, will serve as a foundation for Gilead's efforts to build an industry-leading cell therapy franchise, Ability to drive continuous scientific and medical innovation that improves or replaces existing products, Demonstrated ability to scale complicated manufacturing processes to meet patient demand, Rapid design and execution of clinical development programs that shorten development timelines, Successful track record of launching innovative, specialty medicines. 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