The Summit-based national bioresearch company Celgene has formally acquired Juno Therapeutics, known for its work with blood cancer research.
Mark J. Alles, Celgene’s CEO, said the deal “builds on our shared vision to discover and develop transformative medicines for patients with incurable blood cancers,” adding that “Juno’s advanced cellular immunotherapy portfolio and research capabilities strengthen Celgene’s global leadership in hematology and adds new drivers for growth beyond 2020.”
Under the terms of the merger agreement, Celgene will pay $87 per share in cash, or a total of approximately $9 billion net.
Juno has contributed to the development of chimeric antigen receptor, or “CAR” therapy, and T-cell receptor therapeutics. Celgene hopes to implement Juno’s work in its lymphoma research program. It is also hoping to have the “JCAR017” treatment approved by 2019, with potential global peak sales of approximately $3 billion.
As part of their collaboration, Celgene plans to acquire Juno’s Washington state-based research and development facilities in Seattle and Bothell.
“The people at Juno channel their passion for science and patients towards a common goal of finding cures by creating cell therapies that help people live longer, better lives,” said Hans Bishop, Juno’s CEO and president. “Continuing this work will take scientific prowess, manufacturing excellence and global reach. This union will provide all three.”
