Last week, Celgene Corp. (NASDAQ:CELG) shocked biotech investors when it agreed to pay $1 billion for $850 million worth of Juno Therapeutics’ (NASDAQ:JUNO) stock and a handful of licensing rights, leaving Celgene with a 10% stake in the smaller company.
Juno Therapeutics is at the forefront of developing chimeric antigen receptor, or CAR, T-cell therapies, and the deal secures Celgene’s access to next-generation therapies. However, Juno Therapeutics isn’t the only company exploring the potential to reengineer T cells to help patients’ immune systems better find and destroy cancer cells; Kite Pharma (NASDAQ:KITE) and Ziopharm Oncology (NASDAQ:ZIOP) are also exploring the possibility.
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