Dear Kite: With 2300% up­side, we blazed an amaz­ing trail

With the $12 bil­lion Kite buy­out now signed, sealed and de­liv­ered, CEO Arie Bellde­grun has penned a thank-you note to every­one who helped along the way.

Here it is, in its en­tire­ty.


To My Kite Fam­i­ly –

Arie Bellde­grun

For all of us, the Kite ex­pe­ri­ence has been more than just an in­vest­ment op­por­tu­ni­ty or a step­ping stone in a pro­fes­sion­al ca­reer. Over the past eight years, Kite has be­come an in­te­gral part of our lives and a foun­da­tion from which hope be­came more than just an as­pi­ra­tion.

To our pa­tients: You put your faith in us and an ex­per­i­men­tal tech­nol­o­gy known as CAR T ther­a­py. That faith al­lowed a small proof-of-con­cept tri­al to po­ten­tial­ly pro­duce the first-and-on­ly ap­proved CAR T ther­a­py for mul­ti­ple forms of large B-cell lym­phoma. We now have the po­ten­tial to treat thou­sands of pa­tients in need and the means to ex­pand the tech­nol­o­gy to treat many oth­er tu­mors.

To clin­i­cians, our stead­fast part­ners: Your tire­less ef­forts in con­duct­ing clin­i­cal tri­als, with the sole pur­pose of giv­ing your pa­tients hope when no oth­er op­tions re­mained, is to be com­mend­ed. You should be proud. Your de­ter­mi­na­tion and ex­per­tise have paved the way for oth­ers to fol­low.

To our in­vestors: I am hon­ored and hum­bled by your con­tin­ued be­lief in us. Some of you joined me in the nascent stages of Kite, where you in­vest­ed in sim­ply my word, pas­sion and be­lief. While oth­er in­vestors came lat­er, all of you stood by our side, time and time again, even when oth­ers tried to in­fuse doubt. You have been wise ad­vi­sors and fierce sen­tinels.

To our Board of Di­rec­tors: Your sup­port and guid­ance is be­yond what any­one may read in an SEC fil­ing. You have been our guardians and teach­ers, each bring­ing your own set of ex­pe­ri­ences and in­sights for the bet­ter­ment of every­one in­volved in Kite. You have helped us build and pre­serve a bright fu­ture for cell ther­a­py.

To our UCLA friends and Sci­en­tif­ic Founders: Back in 2009, your un­pop­u­lar be­lief that cel­lu­lar im­munother­a­py not on­ly held great promise for the treat­ment of pa­tients but could al­so be brought to pa­tients with oth­er­wise in­cur­able can­cer was para­mount to the suc­cess of Kite. Your friend­ship, ex­per­tise and sup­port of the en­tire Kite fam­i­ly for the past eight years is the ul­ti­mate ex­am­ple of a suc­cess­ful aca­d­e­m­ic-in­dus­try part­ner­ship. I can­not thank you enough for all you have done for Kite.

To our em­ploy­ees: I can’t imag­ine work­ing along­side a braver, more pas­sion­ate or more com­mit­ted group of peo­ple, of­ten­times at the qui­et sac­ri­fice of your per­son­al lives. Your de­vo­tion has been with­out lim­it or ques­tion, even in the face of skep­tics.

In a span of just a few short years, we grew from few­er than 10 em­ploy­ees to al­most 700. The com­pa­ny’s val­ue in­creased 2300% from the time of our IPO to near­ly $12 bil­lion with the ac­qui­si­tion by Gilead Sci­ences. Our clos­ing $180 per share price rep­re­sents not just a 960% ap­pre­ci­a­tion from the IPO price of $17 per share, but the largest ever pre-com­mer­cial bio­phar­ma ac­qui­si­tion.

Kite has changed so many lives in just eight years. I know it has changed mine. I hope it has changed yours, too.

In this, my last of­fi­cial up­date as Pres­i­dent and CEO of Kite, I re­main filled with hope. Hope that Kite’s maid­en flight is mere­ly the first leg of a jour­ney, with an ul­ti­mate des­ti­na­tion more amaz­ing than any of us can to­day con­ceive. Hope that we, in­di­vid­u­al­ly, and col­lec­tive­ly, re­main fo­cused on the cure and con­tin­ue to work to­ward this no­ble pur­suit. And, hope that I get the chance to shake your hand and per­son­al­ly thank each of you for what you have done to make the Kite dream pos­si­ble.

Hope is on­ly the be­gin­ning, not the strat­e­gy.

Thank you all again for your years of sup­port. None of this would have been pos­si­ble with­out each of you.

Arie

5AM Ven­tures: Fu­el­ing the Next Gen­er­a­tion of In­no­va­tors

By RBC Capital Markets
With Andy Schwab, Co-Founder and Managing Partner at 5AM Ventures

Key Points

Prescription Digital Therapeutics, cell therapy technologies, and in silico medicines will be a vital part of future treatment modalities.
Unlocking the potential of the microbiome could be the missing link to better disease diagnosis.
Growing links between academia, industry, and venture capital are spinning out more innovative biotech companies.
Biotech is now seen by investors as a growth space as well as a safe haven, fuelling the recent IPO boom.

Hal Barron, GSK via YouTube

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Janet Woodcock (AP Images)

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Janet Woodcock and Joshua Sharfstein (AP, Images)

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