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 and a lead investor of the round, joined Kite's board of directors.
"The funds will allow us to grow the company, advance our products into clinical development and to expand our pre-clinical pipeline," said Kite CEO Aya Jakobovits, Ph.D. Jakobovits was a former R&D exec at Agensys and Abgenix. According to the company's website, Kite has three development programs in place, with a lead therapeutic vaccine for hepatocellular cancer in Phase I.
"Immunotherapy is the next frontier for potential breakthroughs in cancer therapies. Having assembled an outstanding team at Kite, we aim to capitalize on the latest developments and become a leader in the field," added Arie Belldegrun, the executive chairman and founder of Kite.
- see the Kite release
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