Tmunity buyout gives next building block to Gilead’s Kite

Gilead’s acquisition of Tmunity will give the biopharma a handful of programs in development and a CAR T platform, but it won’t include the successor to a prostate cancer therapy that was shut down last year following patient deaths, and it may not provide much of a reward for the investors who put at least $231 million into the start-up.

The Kite subsidiary of Gilead Sciences Inc. (NASDAQ:GILD) will pay an undisclosed amount for Philadelphia-based Tmunity Inc., co-founded in 2015 by the University of Pennsylvania’s Carl June to develop CAR T therapies for solid tumors and blood cancers...