In a bid to expand its cell therapy portfolio, Kite Pharma has entered into a licensing agreement with Arcellx in a deal worth up to US$4.22 B. The companies will co-develop and co-commercialise Arcellx’s CART-ddBCMA for the treatment of patients with relapsed or refractory multiple myeloma. Under the terms of the agreement, Arcellx will receive an upfront cash payment of US$225 M as well as a US$100 M equity investment. The companies will divide the US profits equally whereas in ex-US regions, Kite will market the product and Arcellx will receive royalties on sales.