Gilead Sciences completes acquisition of Kite Pharma

Gilead Sciences has confirmed the completion of its previously-announced acquisition of the biopharmaceutical company Kite Pharma.

Following the conclusion of the $11.9 billion (8.97 billion pounds) transaction, Kite has become a wholly-owned subsidiary of Gilead, with more than 700 employees joining Gilead.

Based in California, Kite develops innovative cancer immunotherapies, with a focus on chimeric antigen receptor and T-cell receptor-engineered cell therapies designed to empower the immune system's ability to recognise and kill tumours.

Its lead product candidate, Axi-cel, is currently under review in both the US and EU as a treatment for patients with different forms of lymphoma, with these applications based on positive results from the ZUMA-1 pivotal trial.

Dr John Milligan, Gilead's president and chief executive officer, said: "Throughout our respective histories, each company has demonstrated a deep commitment to advancing life-saving therapies for people who need them. I look forward to all that we will accomplish together, as a combined organisation."

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