Celgene exercises option on Juno's CD19-directed product candidates
USA-based Juno Therapeutics (Nasdaq: JUNO) saw its shares edge 1.7% higher to $42.62 in mid-morning trading, after biotech major Celgene (Nasdaq: CELG) said it has exercised its option to develop and commercialize the Juno CD19 program outside North America and China.
With the exercise of this option, Celgene will pay Juno a fee of $50 million and the companies will now share global development expenses for products in the CD19 program.
Under a $1 billion deal signed last year (The Pharma Letter June 30, 2016), Celgene has commercial rights outside of North America and China and will pay Juno a royalty at a percentage in the mid-teens on any future net sales of therapeutic products developed through the CD19 program in Celgene’s territories. Juno retains commercialization rights in North America and China.
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