There’s probably not a hotter area of biotechnology right now than what’s known as CART therapy, in which a patient’s own white blood cells are genetically engineered to attack cancer. Earlier this month Novartis announced that 36 of 39 children with acute lymphocytic leukemia that had failed standard treatments saw their disease disappear completely and 25 remained cancer free after six months. A set of competing programs from Juno Therapeutics, in Seattle, have Wall Street hyped. Next week, in an initial public offering, Juno will offer 9.3 million shares at a range of $15 to $18, raising as much as $191 million. The company will sport a market capitalization of at least $1.4 billion. Kite Pharmaceuticals, the only publicly traded CART company, has seen its shares trade up 80% since it raised $128 million in a June IPO.
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