NEW YORK, Jan. 9, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS) and its subsidiary, Progenitor Cell Therapy, LLC ("PCT"), announced today the execution of a Services Agreement with Kite Pharma, Inc., under which PCT will provide cell therapy process development and manufacturing services for Kite Pharma's lead engineered Autologous T Cell Therapy (eACT™) clinical development program.
Kite Pharma ("Kite") is developing proprietary cancer immunotherapy products, with a primary focus on eACT™ designed by Kite to restore the immune system's ability to recognize and eradicate tumors. In connection with Kite's lead eACT™ clinical development program, anti-CD19 CAR T cells to treat aggressive lymphoma, Kite has engaged PCT for process development services, technology transfer and implementation of the manufacturing process, including manufacturing, packaging, labeling, quality control testing, and product release and storage.
PCT is an internationally recognized contract development and manufacturing organization with facilities in Allendale, New Jersey and Mountain View, California. The Company has expertise in Good Manufacturing Practices ("GMP") manufacturing for cell therapies, including dendritic cells, stem cells and T cells. Notably, PCT provided manufacturing for the pivotal studies for Dendreon's Provenge ®, the first cell therapy approved for cancer treatment. PCT has provided high quality and cost efficient development and manufacturing services to over 100 clients in its more than 15-year history.Marc Better, PhD, Kite's Vice President, Product Sciences, stated, "In our mission to rapidly advance products that harness the power of immunotherapy, we have seen substantial progress in our lead programs in exclusive collaboration with the National Cancer Institute, including impressive clinical results in lymphoma patients highlighted at the recent American Society of Hematology meeting. We believe that PCT offers industry-leading experience and expertise that will help speed progress toward Kite-sponsored clinical studies in the US." Robert A. Preti, PhD, Chief Scientific Officer and President of PCT, said, "We are excited to enter into this agreement with Kite and look forward to applying our expertise in technology transfer and manufacturing to help Kite meet its clinical trial timelines and commercialization goals."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts