Kite announced on December 20 its acquisition of Tmunity Therapeutics. Kite will acquire all outstanding shares of Tmunity other than those already owned by Kite. The transaction is expected to close in the first quarter of 2023. After closing, Tmunity’s employees will join Kite. The financial terms of the agreement were not disclosed.
Tmunity is a private, clinical-stage biotechnology company focused on transforming the future of CAR-T therapies by developing the next generation of engineered T-cell therapies, innovative manufacturing processes and technologies.
Kite, a clinical-stage biopharmaceutical company, is focused on developing engineered autologous T-cell therapy products. On a trailing 12-month basis, Kite generated revenue of $19.9 million and a net loss of $173.9 million.
According to data captured from the LevinPro HC database, this marks the 138th Biotechnology deal of 2022. This compares with 116 Biotechnology transactions reported between January 1, 2021, and December 20, 2021.
