NeoStem Announces Expanded Cell Therapy Manufacturing Relationship With Kite Pharma
Amendment Adds Dedicated NeoStem Facilities and Personnel
New York (April 20, 2015) -- NeoStem, Inc. (NASDAQ:NBS), a biopharmaceutical company developing novel cell-based individualized medicine therapies, announced today the expansion of manufacturing services under an existing Services Agreement between its wholly-owned subsidiary, PCT, and Kite Pharma, Inc. (NASDAQ:KITE) (Kite), a clinical-stage biopharmaceutical company focused on developing engineered autologous T cell therapy (eACT™) products for the treatment of cancer.
Under the terms of the original agreement, PCT and its center of excellence for cell therapy process development, engineering and manufacturing, provided development and manufacturing services for Kite's lead eACT™ clinical development program. These services included technology transfer, process development, qualification and implementation of the manufacturing process. Under the expanded Services Agreement, Kite will receive these services through increased facilities and personnel at PCT's Mountain View, CA location that are contractually dedicated to Kite.
"We look forward to continuing our mutually beneficial partnership with Kite and to offering manufacturing service for the important cell therapy that they plan to advance toward the commercial market," said Dr. Robert A. Preti, Chief Scientific Officer of NeoStem and President of PCT. "The expansion of NeoStem's arrangement with Kite allows us to grow our Mountain View facility and to continue providing innovative, reliable and high quality manufacturing expertise to cell therapy developers who are researching potentially life-changing treatments for patients across many therapeutic areas."
"We are pleased that we have expanded our relationship with Kite and look forward to continuing to provide them with premium specialized immunotherapy manufacturing services. This arrangement with Kite will serve as a model for future collaborations between PCT and its clients," said Dr. David J. Mazzo, NeoStem's Chief Executive Officer. "We have valued PCT's expertise, manufacturing facilities, and services, and we look forward to a continued productive relationship with them," said Dr. Arie Belldegrun, Chairman, President and Chief Executive Officer of Kite.
About NeoStem, Inc.
NeoStem is a biopharmaceutical company pursuing the preservation and enhancement of human health globally through the development of novel cell based individualized medicine therapeutics that prevent, treat or cure disease. The Company is developing therapies based on three platform technologies (immune-oncology, ischemic repair and immunomodulation) with a lead, late-stage clinical program for each. The combination of a rich therapeutics pipeline and an externally recognized in-house center for cell therapy process development and manufacturing has created an organization with unique capabilities for accelerated and efficient product development. www.neostem.com
