Celgene to invest $1 billion in Juno to partner in cancer therapies
Celgene Corp on Monday launched a 10-year partnership with Juno Therapeutics, announcing a $1 billion investment aimed at bringing to market Juno technologies that harness the immune system to treat cancer and autoimmune diseases. The huge vote of confidence propelled Juno’s shares more than 40 percent higher to $65.75 in heavy extended trading. Celgene will pay Juno about $150 million upfront and buy about 9.1 million newly issued Juno shares at $93 each, double Juno’s closing price on Monday.