Kite To Acquire Tmunity - Quick Facts

(RTTNews) - Kite, a Gilead Company (GILD), and Tmunity Therapeutics have signed an agreement in which Kite will acquire Tmunity, a clinical-stage, private biotech company focused on next-generation CAR T-therapies and technologies. The acquisition will provide Kite with pre-clinical and clinical programs, including an 'armored' CAR T technology platform.

Kite said the acquisition of Tmunity complements its 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.

Gilead expects the transaction with Tmunity to reduce GAAP and non-GAAP 2023 EPS by approximately $0.18-$0.22.