SANTA MONICA, Calif.--(BUSINESS WIRE)-- Kite Pharma, Inc., (Nasdaq:KITE), a leading cell therapy company, has been named to MIT Technology Review's 2017 list of 50 Smartest Companies. To make the list, a company must exhibit technological leadership and business acumen which sets them apart from competitors. Kite was ranked #7 on this list for its leadership in establishing the field of engineered cell therapy for the treatment of cancer.
"The companies on the list combine a high level of technology innovation with a business model that will help them make the most of it," said Nanette Byrnes, senior editor for business of MIT Technology Review. "Public and private, large and small, based in countries around the globe, this group of companies is creating new opportunities and pouncing on them. These are the ones that competitors must follow."
The decades long journey of developing chimeric antigen receptor (CAR) technology by institutions such as the National Cancer Institute has seen tremendous advancement in just the last few years. Beginning in late 2014, Kite was able to accelerate development of engineered cell therapy and its lead CAR-T candidate, axicabtagene ciloleucel. That effort led to the presentation earlier this year of positive data from ZUMA-1, the first pivotal CAR-T trial in patients with refractory aggressive B-cell non-Hodgkin lymphoma (NHL). A Biological License Application (BLA) for axicabtagene ciloleucel has been accepted by the FDA and, if approved, Kite plans to commercially launch axicabtagene ciloleucel in 2017.
"Kite is honored to be included and recognized as part of MIT Technology Review's 50 Smartest Companies List for our work in establishing CAR-T therapy," said Arie Belldegrun, MD, FACS, Chairman, President and Chief Executive Officer of Kite. "This year will be a transformative year across the industry for this paradigm-changing technology, which includes the potential approval by the FDA of axicabtagene ciloleucel. At Kite, we utilized the years of pioneering research from our academic collaborators and assembled a team of industry experts to advance engineered cell therapies from early research to full commercialization to address an important unmet clinical need."
The list is included in MIT Technology Review's annual business issue, which is available online now and on newsstands worldwide on July 4, 2017.
About MIT Technology Review
Founded at the Massachusetts Institute of Technology in 1899, MIT Technology Review is a digitally oriented independent media company whose analysis, features, reviews, interviews, and live events explain the commercial, social, and political impact of new technologies. MIT Technology Review readers are curious technology enthusiasts—a global audience of business and thought leaders, innovators and early adopters, entrepreneurs and investors. Every day, MIT Technology Review provides an authoritative filter for the flood of information about technology. The company is the first to report on a broad range of new technologies, informing its audiences about how important breakthroughs will impact their careers and their lives. Subscribe. Follow MIT Technology Review: Twitter, Facebook, LinkedIn, Google+, Instagram.
Kite is a biopharmaceutical company engaged in the development of innovative cancer immunotherapies with a goal of providing rapid, long-term durable response and eliminating the burden of chronic care. The company is focused on chimeric antigen receptor (CAR) and T cell receptor (TCR) engineered cell therapies designed to empower the immune system's ability to recognize and kill tumors. Kite is based in Santa Monica, CA. For more information on Kite, please visit www.kitepharma.com. Sign up to follow @KitePharma on Twitter at www.twitter.com/kitepharma.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The press release may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the timing and ability of obtaining regulatory approval and commercially launching axicabtagene ciloleucel and the ability to advance engineered cell therapies. Various factors may cause differences between Kite's expectations and actual results as discussed in greater detail in Kite's filings with the Securities and Exchange Commission, including without limitation in its Form 10-Q for the quarter ended March 31, 2017. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Kite assumes no obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
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Source: Kite Pharma, Inc.
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