Kite to acquire Tmunity Therapeutics

US biotech major Gilead Science (Nasdaq: GILD) today revealed that its Kite subsidiary has reached agreement to acquire privately-held Tmunity Therapeutics, a start-up set up by Carl June and his colleagues at the University of Pennsylvania and with former Novartis (NOVN: VX) heavyweight Usman ‘Oz’ Azam as chief executive,

The acquisition of Tmunity complements Kite’s existing in-house cell therapy research capabilities by adding additional pipeline assets, platform capabilities, and a strategic research and licensing agreement with the University of Pennsylvania (Penn).

The transaction, financial terms of which are not disclosed, is expected to close in the first quarter of 2023, and after closing, Tmunity’s employees will join Kite. Closing of the transaction is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.