Print“In more than 30 years of immunotherapy research, this is the most exciting data I've seen—a complete molecular response in clinical trial patients, says Richard Klausner, co-founder of Juno and former director of the National Cancer Institute.”
Three leading cancer centers—The Fred Hutchinson Cancer Research Center, Memorial Sloan-Kettering Cancer Center, and Seattle Children's Research Institute—have joined forces to launch Juno Therapeutics with an initial investment of $120 million, one of the largest series A biotech startups to date.
The Seattle-based biotech will focus on advancing a broad pipeline of new cancer immunotherapies. Juno's goal is to drive multiple product candidates in select hematologic and solid tumor cancers to U.S. regulatory approval. The new company says each candidate has the potential to treat a variety of high-risk cancers.
“Juno presents a compelling opportunity to partner with a sophisticated management team and group of world-class research institutions who share our long-term perspective,” says Michael Burns, executive director of Alaska Permanent Fund, one of the lead investors in the financing. “At a time when public financing for clinical development has largely dried up, the private-sector model is critical to allowing ventures like Juno to push the frontiers of research.”
Juno will leverage the scientific understanding of tumor immunology of its scientific co-founders to genetically engineer a patient’s own T-cells to kill cancer cells. The biotech is developing two complementary platforms: chimeric antigen receptor technology designed to target cell surface antigens that are expressed on cancer cells; and high-affinity T-cell receptor technology that can detect alterations in intracellular proteins present in tumor cells. These treatments are expected to reduce longer-term toxicities associated with current chemotherapies.
“The initial data from the clinical trials conducted by the scientific founders to date points toward the strong potential for this team to bring forward a broad pipeline of immunotherapy products that will transform how we treat cancer,” says Robert Nelsen, co-founder of Juno and managing director at Arch Venture Partners, another lead investor in Juno.
The co-founding scientists are excited by the early data, and see it as a transformative therapeutic platform. “In more than 30 years of immunotherapy research, this is the most exciting data I've seen—a complete molecular response in clinical trial patients,” says Richard Klausner, co-founder of Juno and former director of the National Cancer Institute.
Juno’s co-founders include its CEO, Hans Bishop, who was the former executive vice president and chief operating officer of Dendreon, a pioneer in using a patient’s own T-cells to induce an immune response in cancer.
December 08, 2013
http://www.burrillreport.com/article-cancer_research_centers_partner_to_launch_juno_with_120m_series_a.html
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