 Kite Pharma said it would receive an upfront payment of $40 million from the joint venture, funded by Fosun Pharma as well as regulatory and commercial milestones totaling $35 million.On August 28, 2017, Gilead Sciences announced that it would purchase Kite Pharma for US$11.9 billion in cash ($180.00 per share).The purchase was subsequently completed for the announced price on October 3, 2017.