Kite and Arcellx have entered a global strategic collaboration to co-develop and co-commercialise CART-ddBCMA for the treatment of patients with relapsed or refractory multiple myeloma.
Currently in Phase II clinical development, CART-ddBCMA is an investigational cell therapy product comprising autologous T cells that have been genetically modified to target multiple myeloma.
Arcellx will receive an upfront cash payment of $225 million and $100 million equity investment, as well as other potential contingent payments. The companies will share development, clinical trial, and commercialisation costs for CART-ddBCMA and will jointly commercialise the product and split US profits 50/50.
Outside the US, Kite will commercialise the product and Arcellx will receive royalties on sales. After completion of the technical transfer, Kite will be responsible for manufacturing.
Christi Shaw, Chief Executive Officer of Kite, said: “Cell therapy has proven it can change the way cancer is treated by creating a potentially curative therapy for an individual patient, engineered from their own T cells. The Kite team is excited to engage on this meaningful program in the multiple myeloma field, alongside Arcellx’s talented team.”
The transaction is expected to close in the first quarter of 2023.
