Daiichi gets Japan rights to Kite's CAR T

Kite Pharma Inc. (NASDAQ:KITE) said it granted Daiichi Sankyo Co. Ltd. (Tokyo:4568) rights in Japan to develop and commercialize chimeric antigen receptor T cell therapy axicabtagene ciloleucel (KTE-C19).

Kite is to receive $50 million up front from Daiichi, and is eligible for $200 million in milestones, plus royalties. Daiichi is responsible for development and commercialization in Japan. Daiichi also may opt to license additional Kite candidates, including KITE-718, for up to $200 million each in combined upfront and milestones, plus royalties...