Celgene bought Juno in a deal valued at about $9 billion.
Seattle biotech company Juno Therapeutics is now officially owned by Celgene, with the completion of a deal that valued Juno at about $9 billion.
Celgene, headquarted in Summit, N.J., agreed to buy Juno in January to combine resources in the cancer research field. Juno specializes in treatments that genetically modify patient’s immune cells so that they can fight off cancer.
Celgene, which already owned about 10 percent of Juno, paid $87 per share for the rest.
Juno’s leading drug candidate, called JCAR017, has shown promising results in treating Non-Hodgkin lymphoma. Celgene said it plans to expand on the research.
Most Read Business Stories
- Boeing will hire hundreds of temporary employees at Moses Lake as it prepares for 737 MAX's return to service
- Where a recession might hurt the Puget Sound region worst | Jon Talton
- Amazon is harnessing ‘strange’ growth of independent sellers with new tools
- FAA cautions airlines on maintenance of sensors that were key to 737 MAX crashes
- Amazon opens its largest campus building anywhere, in India
Juno has about 650 employees in its South Lake Union office and a Bothell development plant; both will remain following the acquisition. Juno is hiring for about 100 open positions in the Puget Sound area, according to its website.
Juno spun out of research from the Fred Hutchinson Cancer Research Center and went public in 2014.