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ARTICLE | Company News

Juno acquires manufacturing play Stage

May 12, 2015 2:17 AM UTC

Juno Therapeutics Inc. (NASDAQ:JUNO) acquired cell therapy manufacturing company Stage Cell Therapeutics GmbH (Gottingen, Germany) to help produce its chimeric antigen receptor (CAR) and T cell receptor ( TCR) therapies. Juno already owned a 5% stake in Stage.

Stage received EUR 52.5 million ($58.6 million) in cash and 486,279 shares of Juno stock, valued at $22.2 million based on Monday's closing price. Stage is also eligible for EUR 135 million ($150.6 million) in development and commercialization milestones, including EUR 40 million ($44.6 million) related to novel reagents, EUR 65 million ($72.5 million) for advanced automation technology and EUR 30 million ($33.5 million) for Stage's existing clinical pipeline. ...