Issue Date: May 18, 2015
Lilly, Juno Strike Deals With German Immunotherapy Firms
Eli Lilly & Co. will pay Germany’s BioNTech $30 million to develop cancer immunotherapies. The partners will identify tumor targets and their related functional T-cell receptors, which together can be engineered into therapies. Lilly will also take a stake worth $30 million in the biotech firm’s subsidiary Cell & Gene Therapies. In a separate cancer immunotherapy deal, Juno Therapeutics paid about $59 million in cash and $21 million in stock to acquire Stage Cell Therapeutics, a German biotech with expertise in cellular therapy manufacturing. Juno already owned a 5% stake in the firm.
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