Seattle biotech Juno Therapeutics plans to raise $150mn via IPO
18/11/2014 17:35
Biotechnology Company Juno Therapeutics on Tuesday said that it has filed plans for an initial public offering of stock to raise up to USD 150 million, reported media. The Seattle immunotherapy company said it intends to use the proceeds to advance one cancer drug into phase 2 clinical trials, move forward with other potential drugs under study, and establish its own manufacturing capabilities, among other things. In the preliminary IPO filing, Juno said its most advanced candidate is for B cell acute lymphoblastic leukemia that has not responded to other treatment. The drug, called JCAR015, has shown a remarkable 91 percent remission rate in a phase 1 study of 22 patients, according to the company. Typical remission rates in comparable studies without the use of JCAR015 are less than 10 percent, it said. Juno was unveiled last December with a bang, bringing together cancer-therapy research from the Fred Hutchinson Cancer Research Center, Seattle Children’s and New York’s Memorial Sloan-Kettering Cancer Center. It launched with USD 120 million, making it one of the country’s best-funded startups last year, and by August had accumulated USD 314 million in capital.
18/11/2014 17:35
Biotechnology Company Juno Therapeutics on Tuesday said that it has filed plans for an initial public offering of stock to raise up to USD 150 million, reported media. The Seattle immunotherapy company said it intends to use the proceeds to advance one cancer drug into phase 2 clinical trials, move forward with other potential drugs under study, and establish its own manufacturing capabilities, among other things. In the preliminary IPO filing, Juno said its most advanced candidate is for B cell acute lymphoblastic leukemia that has not responded to other treatment. The drug, called JCAR015, has shown a remarkable 91 percent remission rate in a phase 1 study of 22 patients, according to the company. Typical remission rates in comparable studies without the use of JCAR015 are less than 10 percent, it said. Juno was unveiled last December with a bang, bringing together cancer-therapy research from the Fred Hutchinson Cancer Research Center, Seattle Children’s and New York’s Memorial Sloan-Kettering Cancer Center. It launched with USD 120 million, making it one of the country’s best-funded startups last year, and by August had accumulated USD 314 million in capital.
