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Fosun Buys Out CAR-T Partner Kite for $27m Plus Earnouts

publication date: Sep 16, 2024

Shanghai’s Fosun Pharma announced plans to buy out its JV partner, Kite Pharma, gaining full control of the JV’s two CAR-T products in China. In 2017, Fosun paid $95 million for a 50% stake in a JV with Kite that was formed to bring Kite’s lead product, Yescarta, to China. Now, Fosun will buy out Kite’s 50% stake in the JV for $27 million plus invest $10 million in Fosun Kite. Fosun Kite holds China rights for Yescarta, and it is also developing a second Kite-sourced CAR-T candidate, FKC889 (brexucabtagene autoleucel). Yescarta was China’s first approved CAR-T therapy. More details....

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