|Fate Therapeutics Inc. Jumps 46% On license agreement with Juno Therapeutics|
|By Josh Gee|
|Wednesday, 06 May 2015 19:07|
Juno Therapeutics and Fate Therapeutics Inc. (NASDAQ:FATE) have confirmed execution of a strategic research collaboration as well as license agreement for identifying and utilising small molecules for modulation of Juno's genetically-engineered T cell product candidates in order to improve therapeutic potential for cancer patients.
The partnership brings together Juno's expertise in development of chimeric antigen receptor as well as T cell receptor and Fate's innovative platform for programming biological properties.
Hans Bishop, Chief Executive Officer of Juno Therapeutics, opined that deeper understanding of T cell biology is Juno's approach for creating best-in-class cellular immunotherapies along with accessing strong science besides leading platform for modulating properties of immunological cells.
In the four-year R&D collaboration, Fate would be responsible for identifying small molecules which modulate biological properties of engineered T cells. Juno would be developing and commercialising engineered T cell immunotherapies putting Fate's small molecule modulators.
Juno has option of extending exclusive research term for a couple of years. Christian Weyer, M.D., M.A.S., President and Chief Executive Officer of Fate Therapeutics, opined that it is excited on establishing strategic alliance with Juno.
He added that the partnership signifies extension of small molecule programming platform for additional hematopoietic cell types like T cells as it continues on building and advancing innovative pipeline of programmed hematopoietic cellular therapeutic candidates.
An upfront payment would be made to Fate of $5 million and purchase by Juno of one million shares of Fate common stock at $8.00 per share is a part of the agreement.
Juno would be funding mutual collaboration activities for four-year research term.
Fate would be receiving about $50 million for the development of every product developed by Juno incorporating modulators.