Kite Pharma Inc (NASDAQ:KITE), a Biotech Stocks pharmaceutical company has announced the appointment of Richard L. Wang, Ph.D the Chief Executive Officer of Fosun Kite Biotechnology Co., Ltd. Fosun Kite Biotechnology is jointly owned by Kite Pharma and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. The Kite Pharma– Shanghai Fosun formation was announced early this year to develop market and commercialize autologous T-cell therapies used in cancer treatment. The joint venture is in the final stages of registration.
Kite Chairman, President, and Chief Executive Officer Arie Belldegrun said the company is at a stage of significant change through the adoption of CAR-T therapy as a certified blood cancer treatment. He adds that to successfully initiate and complete the change the company requires a deep understanding of all requirements from each country. It also needs deft management as well as the ability to unite the strength of collaborators, partners and the local community. He says Dr. Wang will offer the unique leadership and experience necessary for the success of CAR-T therapy, Fosun Kite Biotechnology and axicabtagene ciloleucel in China.
Dr. Wang brings on board a wide experience and leadership unique to the biopharmaceutical industry both in the U.S and China. Dr. Wang has worked at Bristol-Myers Squibb, Procter & Gamble, GlaxoSmithKline and AstraZeneca. He is the Immediate Chief Operating Officer at Cellular Biomedicine Group. Cellular Biomedicine Group is a cell therapy and clinical-stage immuno-oncology company based in china.
Dr. Wang previously worked as a Senior Site Leader and Head of Operations at GlaxoSmithKline in China. The joint venture will be depending on Dr Wang’s leadership to establish and spread its business operations in China and strengthen its leadership team to oversee clinical development activities as well as technical operations
Kite is a biopharmaceutical and biotechnology stocks company that specializes in development of advanced and innovative cancer therapies aimed at providing long term and rapid responses as well as reducing the burden of chronic care. The company is engaged in development of T cell receptor (TCR) and chimeric antigen receptor (CAR) engineered cell therapies.