Celgene $1 billion joint venture with Juno Therapeutics

Overview:

• Celgene Corporation, based in Summit, New Jersey, and Juno Therapeutics, based in Seattle, Washington, have formed a joint venture to develop and commercialize immunotherapies. 
• Celgene acquired 9,137,672 shares of Juno’s common stock at $93 per a share. 
• This agreement included an option for Celgene to increase its stake in Juno in the future. 
• As a result of the agreement, Celgene can commercialize Juno programs outside North America, and Juno can co-develop and co-promote certain Celgene programs.

Rani Mehta - Journalist