Juno CEO Hans Bishop (left) speaking to VP of Research and Receptor Discovery Francois Vigneault inside his lab. (GeekWire Photo / Kurt Schlosser)

Juno Therapeutics, the Seattle-based biotech company making cutting-edge cancer immunotherapy treatments, has reached a deal to be acquired by New Jersey-based Celgene for $9 billion, or $87 per share. Juno’s stock price, already high following rumors of the impending deal last week, jumped another 26 percent Monday morning on the news, resting at $86.04 at 8 a.m. Pacific.

Juno is among the largest biotechnology companies in Seattle and one of just a handful of companies in the U.S. developing CAR T immunotherapies. Juno’s market value was $5.5 billion Tuesday afternoon and jumped to $7.7 billion Wednesday after reports of a possible acquisition. Its competitor, Kite Pharma, was acquired for $11.9 billion last year.

“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,” Juno CEO Hans Bishop said in a press release. “Continuing this work will take scientific prowess, manufacturing excellence and global reach. This union will provide all three.”

“The union of Juno with Celgene is …read more

Source:: GeekWire

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