(Yicai Global) Dec. 19 -- A joint venture between China's Fosun Pharmaceutical Group and US's Kite Pharma has completed its first production base in less than a year to make Yescarta gene therapy products in Shanghai with an aim to treat lymphoma, a type of blood cancer. 

Fosun Kite Biotechnology is expected to start producing Yescarta in the 10,000-square meter facility, located in the Zhangjiang Hi-Tech Park, next year, China Securities Journal reported.

Yescarta is the first US Food and Drug Administration-approved CAR-T cell immunotherapy that uses the patient's white blood cells to attack lymphoma cells. The global cell therapy market should grow by 46 percent in the 10 years till 2028, according to market research firm Coherent.

"We will closely cooperate with drug regulators, promoting an early approval of Yescarta and other cell therapy products to benefit cancer patients in China," Fosun Kite Chief Executive Richard Wang said at the opening ceremony yesterday.

Shanghai-based Fosun Pharma and California's Kite Pharma formed the JV in 2017 and quickly got the green light to test cell therapies in China.

Editor: Emmi Laine