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Kite, a Gilead Company (Nasdaq: GILD), and Oxford BioTherapeutics Ltd. (OBT), a clinical stage oncology company with a pipeline of immuno-oncology (IO) and antibody-drug conjugate (ADC)-based therapies, announced that the companies have entered into a research collaboration to evaluate five novel targets for a number of hematologic and solid tumor indications.
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Through this collaboration, OBT will validate five novel oncology drug targets, previously identified using OBT's OGAP ® discovery platform, and generate antibodies against these targets. Kite and Gilead will have the exclusive right to develop and commercialize therapies based on these targets or antibodies.
"As the leader in cell therapy, we are committed to continuing to bring its transformative potential to more patients with different kinds of cancers," said Mert Aktar, Vice President of Corporate Development and Strategy at Kite. "We're excited to partner with Oxford BioTherapeutics to help accelerate this research by identifying new targets in solid tumors and hematologic malignancies where novel approaches may help improve outcomes."
Dr. Christian Rohlff, OBT's Chief Executive Officer said, "Selecting the right target is fundamental for the successful development of first-in-class cell therapies. OBT's state-of-the-art platforms have refined this approach to address difficult-to-treat cancers. This has resulted in several candidates entering clinical development either by OBT or its development partners. We are delighted that Kite, the global leader in cell therapy, has recognized the potential of OBT's OGAP ® discovery platform and antibody capabilities through this partnership. On behalf of patients in urgent need of novel therapies, we look forward to working with Kite to advance cell therapies for the treatment of hematologic malignancies and solid tumors."
Under the terms of the agreement, OBT will receive an upfront payment and will be eligible to receive additional payments based on achievement of certain discovery, clinical and regulatory milestones, as well as royalties on future potential sales.
About Oxford BioTherapeutics
Oxford BioTherapeutics is a clinical stage oncology company; based in Oxford, UK; Morristown, New Jersey and San Jose, California, USA; with a pipeline of first-in-class immuno-oncology (IO) and antibody-drug conjugate (ADC)-based therapies identified using OBT's proprietary OGAP® target discovery platform. OBT's approach aims to fulfil major unmet patient needs by targeting difficult-to-treat cancers. For more information on Oxford BioTherapeutics, please visit www.oxfordbiotherapeutics.com .
About Kite
Kite, a Gilead Company, is a biopharmaceutical company based in Santa Monica, California, with commercial manufacturing operations in North America and Europe. Kite is engaged in the development of innovative cancer immunotherapies. The company is focused on chimeric antigen receptor and T cell receptor engineered cell therapies. For more information on Kite, please visit www.kitepharma.com .
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California. For more information on Gilead Sciences, please visit the company's website at www.gilead.com .
Gilead and Kite Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the risk that Gilead and Kite may not realize the potential benefits of this collaboration with Oxford BioTherapeutics or other investments in cell therapy. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead and Kite, and Gilead and Kite assume no obligation to update any such forward-looking statements.
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Gilead and Kite Contacts:
Monica Tellado, Investors
(650) 219-3882
Nathan Kaiser, Media
(650) 522-1853
OBT Contacts:
Investors:
Christian Rohloff
CEO, Oxford BioTherapeutics
44 (0) 1235 861770
christian.r@oxfordbiotherapeutics.com
Media:
Ryo Imai
212-213-0006, ext. 315
rimai@burnsmc.com
Robert Flamm, Ph.D.
212-213-0006, ext. 364
rflamm@burnsmc.com
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