FOSUN Pharma will set up a joint venture with Nasdaq-listed Kite Pharma to develop and commercialize T-cell immunotherapy-based cancer treatment in China, the company said yesterday.
Fosun Pharma will contribute US$20 million to the 50-50 joint venture that will support clinical development and manufacturing activities. Kite will provide certain technical services to the joint venture.
Fosun Pharma Kite Biotechnology Co, to be registered in Shanghai, will focus on commercializing Kite Pharma’s lead product candidate axicabtagene ciloleucel — an investigative therapy, which is at the development and clinical stage, to treat lymphoma.
“There is a huge unmet demand in the treatment for cancer in China, and the joint venture with Kite Pharma is an important and strategic step to build a long-term foundation for T-cell therapy in China, which will help us bring world-leading cancer treatment to patients in need,” said Chen Qiyu, chairman of Fosun Pharma.
Chen added that there is significant synergy between Kate Pharma’s cellular immunotherapy products for cancer and Fosun Pharma’s existing products.
Kite Pharma said Fosun Pharma will also be its vital partner in Asia following its strategic cooperation with Japan’s Daiichi Sankyo.