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12:00 AM
Dec 22, 2014
 |  BioCentury  |  Finance

Out with a bang

Juno closes 2014 with biggest IPO for a clinical-stage, U.S.-listed biotech

Juno Therapeutics Inc. (NASDAQ:JUNO) last week completed the largest IPO with the largest post-money valuation for a clinical-stage biotech on a U.S. exchange since 1994. The CAR T company raised $264.6 million through the sale of 11 million shares at $24 for a valuation of $1.9 billion.

The IPO's size was no surprise, given the interest by biotech specialists and generalist investors in cancer immunotherapy combined with confidence in Juno's management team and academic partners.

Juno had already raised $310 million in two venture rounds since its inception 12 months ago. Since then, the company has reported positive data for its three most advanced...

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