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news.US-based Juno Therapeutics has strengthened its multiple capabilities with the acquisition of German biotechnology firm, Stage Cell Therapeutics (Stage).
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With the acquisition, Juno will now have access to transformative cell selection and activation capabilities, advanced manufacturing automation, improved supply chain and lower expected cost of goods.
According to Juno, the acquired company employs 23 scientists, engineers and other personnel, and will be operated as a wholly-owned German subsidiary under the name, Juno Therapeutics GmbH.
Juno Therapeutics CEO Hans Bishop said: "This important acquisition is driven by our strategy to have best in class process development and manufacturing capabilities in support of our goal of developing next generation CAR and TCR products.
"We welcome our new colleagues in Germany to the Juno family, and we look forward to working together to develop and commercialize best in class therapies."
As part of the transaction, Juno made an upfront payment of EUR52.5m in cash and 486,279 shares of Juno stock to acquire the 95%of Stage not already owned by Juno.
Juno will also pay about EUR135m based upon the achievement of development and commercialization milestones related to new reagents (EUR40m), advanced automation technology (EUR65m), and Stage’s existing clinical pipeline (EUR30m).