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news.Celgene and Juno Therapeutics have entered into a ten-year collaboration to develop and commercialize new immunotherapies for patients with cancer and autoimmune diseases.
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The deal will see the firms use T cell therapeutic strategies to develop treatments for these patients with an initial focus on Chimeric Antigen Receptor Technology (CAR-T) and T Cell Receptor (TCR) technologies.
As part of the deal, Celgene has the option to be the commercialization partner for Juno’s oncology and cell therapy auto-immune product candidates, including its CD19 and CD22 directed CAR-T product candidates.
The company said that B-Cell Maturation Antigen (BCMA) is excluded as a target in this collaboration.
Celgene chairman and CEO Bob Hugin said: "This transaction strengthens Celgene’s position in the emerging and transformative area of immuno-oncology.
"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."
For Juno-originated programs co-developed under the deal, Juno will be responsible for research and development in North America and will retain commercialization rights in those territories, while Celgene will be responsible for development and commercialization in the rest of the world and pay Juno a royalty on sales in those territories.
Additionally, 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 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.
Celgene will be responsible for the global development and commercialization, subject to a Juno co-promote option in the US and certain EU territories.
The deal will see Celgene to make an initial payment of about $1bn which includes the purchase of 9,137,672 shares of Juno stock at $93per share, with potential to increase its stake over time.
The transaction, approved by the boards of directors of both companies, is expected to be completed by the third quarter of this year.