Celgene en Juno werken tien jaar samen aan mogelijk baanbrekende
Celgene Corporation en Juno Therapeutics hebben vandaag aangekondigd dat ze internationaal gaan samenwerken aan de ontwikkeling en vermarkting van immunotherapieën. De twee bedrijven benutten strategieën op gebied van T-celtherapieën voor patiënten met kanker of auto-immuunziekten. De focus ligt aanvankelijk op de zogeheten Chimeric Antigen Receptor Technology (CAR-T) en een technologie met T-celreceptoren.
“Deze transactie versterkt Celgenes positie binnen immuno-oncologie, die in opkomst is en veel veranderingen doormaakt”, zei bestuursvoorzitter van Celgense Bob Hugin. “Juno heeft experts van wereldklasse bijeengebracht en indrukwekkende capaciteiten en technologieën op gebied van T-celbiologie en celtherapie ontwikkeld. We geloven dat deze samenwerking beide bedrijven grotere kansen biedt op vernieuwende behandelingen voor patiënten met onvervulde medische behoeften.”
Celgene and Juno Announce Ten-Year Collaboration to Advance Potentially Groundbreaking Immunotherapies for Patients with Cancer and Autoimmune Diseases
Celgene Corporation (Nasdaq:CELG) and Juno Therapeutics,
Inc. (Nasdaq:JUNO) announced today a global collaboration for the
development and commercialization of immunotherapies. The two companies
will leverage T cell therapeutic strategies to develop treatments for
patients with cancer and autoimmune diseases with an initial focus on
Chimeric Antigen Receptor Technology (CAR-T) and T Cell Receptor (TCR)
technologies.
“This transaction strengthens Celgene’s position in the emerging and
transformative area of immuno-oncology,” said Bob Hugin, Chairman and
CEO of Celgene. “Juno has assembled world class experts and built
impressive capabilities and technologies in the areas of T cell biology
and cellular therapy; we believe this long-term collaboration enhances
the potential of both companies to deliver transformational therapies to
patients with significant unmet medical needs.”
“Celgene is the ideal partner for Juno to help us realize the full
potential of our science and clinical research while maintaining the
independence we, our employees, partners, and investors believe is so
critical for true innovation,” said Hans Bishop, CEO of Juno. “This
unique collaboration is designed to catalyze and create tremendous
ongoing scientific and product development synergy by leveraging each
company’s strengths and assets. In addition to its established global
presence and commercial reach, Celgene has leading small molecule and
protein capabilities that complement Juno’s advanced engineered T cell
capabilities. By doing this together, we believe we can more quickly and
effectively develop potentially disruptive therapies in this new field
of medicine and make them more readily available to patients worldwide.”
Under the terms of the collaboration, Celgene has the option to be the
commercialization partner for Juno’s oncology and cell therapy
auto-immune product candidates, including Juno’s CD19 and CD22 directed
CAR-T product candidates. B-Cell Maturation Antigen (BCMA) is excluded
as a target in this collaboration.
For Juno-originated programs co-developed under the collaboration:
- Juno will be responsible for research and development in North America
and will retain commercialization rights in those territories; - Celgene will be responsible for development and commercialization in
the rest of the world, and will pay Juno a royalty on sales in those
territories; and - Celgene has certain co-promotion options:
- Celgene will initially be eligible to select two programs,
excluding CD19 and CD22, to be subject to a global profit sharing
agreement under which the companies will share worldwide expenses
and profits equally, except in China; and - Additionally, subject to additional obligations, Celgene may
select a third program.
- Celgene will initially be eligible to select two programs,
Juno will have the option to enter into a co-development and
co-commercialization agreement on certain Celgene-originated development
candidates that target T Cells. For any such Celgene-originated programs
co-developed under the collaboration:
- The parties will share global costs and profits with 70% allocated to
Celgene and 30% allocated to Juno; and - Celgene will lead global development and commercialization, subject to
a Juno co-promote option in the US and certain EU territories.
Upon closing, Juno will receive an upfront payment of approximately $150
million, and in addition Celgene will purchase 9,137,672 shares of
Juno’s common stock at $93.00 per share. In conjunction with this stock
purchase:
- Celgene will receive the right to nominate a member to Juno’s board of
directors; - During the 10-year term of the collaboration, Celgene will have the
right to purchase additional equity in Juno during specified windows
and at specified market premiums subject to satisfaction of certain
conditions by each party including Juno opting in on select Celgene
programs, such that, at a maximum, Celgene could own up to 30% of
Juno’s common stock then outstanding; and - Celgene has entered into a standstill agreement and agreed to certain
lock-up provisions on its share ownership.
This transaction has been approved by the boards of directors of both
companies. Celgene and Juno currently expect to complete the transaction
during the third quarter of 2015, subject to the expiration or
termination of applicable waiting periods under all applicable antitrust
laws and satisfaction of other usual and customary closing conditions.
Conference Call and Webcast Information
Juno will host a joint conference call today with Celgene to discuss the
announced global collaboration at 2:00 p.m. PT, 5:00 p.m. ET. The
conference call will be available by webcast on the Investor Relations
page of Juno’s website, <a
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An audio replay of the call will be available from midnight June 30,
2015, until midnight ET July 30, 2015. To access the replay in the U.S.,
dial (855) 859-2056; outside the U.S. dial (404) 537-3406. The
participant passcode is 71894505.
About Celgene
Celgene Corporation, headquartered in Summit, New Jersey, is an
integrated global biopharmaceutical company engaged primarily in the
discovery, development and commercialization of innovative therapies for
the treatment of cancer and inflammatory diseases through gene and
protein regulation. For more information, please visit <a
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About Juno’s Chimeric Antigen Receptor (CAR) and T Cell Receptor
(TCR) Technologies
Juno’s chimeric antigen receptor (CAR) and T cell receptor technologies
(TCR) genetically engineer T cells to recognize and kill cancer cells.
Juno’s CAR T cell technology inserts a gene for a particular CAR into
the T cell, enabling it to recognize cancer cells based on the
expression of a specific protein located on the cell surface. Juno’s TCR
technology provides the T cells with a specific T cell receptor to
recognize protein fragments derived from either the surface or inside
the cell. When either type of engineered T cell engages the target
protein on the cancer cell, it initiates a cell-killing response against
the cancer cell.
About Juno Therapeutics, Inc.
Juno Therapeutics is building a fully integrated biopharmaceutical
company focused on revolutionizing medicine by re-engaging the body’s
immune system to treat cancer. Founded on the vision that the use of
human cells as therapeutic entities will drive one of the next important
phases in medicine, Juno is developing cell-based cancer immunotherapies
based on chimeric antigen receptor and high-affinity T cell receptor
technologies to genetically engineer T cells to recognize and kill
cancer. Juno is developing multiple cell-based product candidates to
treat a variety of B-cell malignancies as well as solid tumors. Several
product candidates have shown compelling evidence of tumor shrinkage in
the clinical trials in refractory leukemia and lymphoma conducted to
date. Juno’s long-term aim is to improve and leverage its cell-based
platform to develop new product candidates that address a broader range
of cancers and human diseases. Juno brings together innovative
technologies from some of the world’s leading research institutions,
including the Fred Hutchinson Cancer Research Center, Memorial Sloan
Kettering Cancer Center, Seattle Children’s Research Institute, and The
National Cancer Institute.
Forward-Looking Statements
This press release contains forward-looking statements, which are
generally statements that are not historical facts. Forward-looking
statements can be identified by the words “expects,” “anticipates,”
“believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and
similar expressions. Forward-looking statements are based on
management’s current plans, estimates, assumptions and projections, and
speak only as of the date they are made. Celgene and Juno undertake no
obligation to update any forward-looking statement in light of new
information or future events, except as otherwise required by law.
Forward-looking statements involve inherent risks and uncertainties,
most of which are difficult to predict and are generally beyond the
control of either company. Actual results or outcomes may differ
materially from those implied by the forward-looking statements as a
result of the impact of a number of factors, many of which are discussed
in more detail in the public reports of each company filed with the
Securities and Exchange Commission.
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