Industry Update: Capital market and finances
Latest market developments compiled from 1—30 June 2015
Latest developments in the field of stem cell research and regenerative
medicine compiled from publicly available information and press releases
from non-academic institutions 1—30 June 2015, scheduled
to be published in Volume 10 Issue 7 of Regenerative Medicine.
Catapult
The Cell Therapy Catapult (UK; https://ct.catapult.org.uk) has published its annual analysis of the UK preclinical and clinical research landscapes with the release of its UK Clinical and Pre-Clinical Trials Databases. These show a 24% rise in the number of clinical trials and an increase of 22% in the number of pre-clinical projects. Sector growth came in the key areas of oncology, neurology, ophthalmology and cardiovascular. The report shows that the majority of all work, 74% of clinical trials and 93% of preclinical, is still undertaken in the academic sector.
Celgene and Juno
Celgene (NJ, USA; www.celgene.com) will pay Juno Therapeutics (WA, USA; https://junotherapeutics.com) about US$ 1 billion as part of a 10-year partnership to study cures for cancer and autoimmune diseases, the largest upfront payment in a biotechnology licensing agreement ever. Celgene will pay US$ 150 million in cash and buy 9.1 million newly issued Juno shares at US$ 93 a share. In return, Celgene will get the right to sell Juno’s therapies around the world, the companies said in a statement Monday. Celgene is betting on an approach to cancer treatment that uses modified versions of immune cells to target malignancies, a process known as CAR-T. It’s considered one of the most promising areas of treatment for blood cancers. The deal will give Celgene about 10 percent of Juno’s stock with the option to buy more over time, up to a limit of 30%. Juno will be responsible for research and development in North America and will keep commercial rights there, while Celgene will be responsible for the rest of the world. The deal also gives Celgene the right to pick two products to share costs and profits with Juno. If both options are exercised Celgene will pay US$ 100 million, according to a filing. Celgene will have to pay more the longer it waits to choose the products. In addition, Juno will be able to co-develop Celgene treatments that target immune system cells. For those, Celgene will lead development and commercialization, taking 70% of costs and profits.
Celyad
Celyad (Belgium; www.celyad.com) announced the closing of its global offering of 1,460,000 ordinary shares, consisting of an underwritten public offering of 1,168,000 American Depositary Shares (ADS), at a price of US$ 68.56 per ADS, before underwriting discounts, and a concurrent European private placement of 292,000 ordinary shares at a price of € 60.25 per share, before underwriting discounts, for gross proceeds of approximately US$ 100.1 (€ 88.0) million. All of the ordinary shares and the ADSs were offered by Celyad.