Date: 2016-04-07
Type of information: Joint-venture agreement
Compound: JW Biotechnology
Company: Juno Therapeutics (USA - WA) WuXi AppTec (China)
Therapeutic area: Cancer - Oncology - Technology - Services
Type agreement: establishment of a new company in China
Action mechanism:
Disease:
Details: * On April 7, 2016, Juno Therapeutics and WuXi AppTec announced that they have started a new company in China. JW Biotechnology (Shanghai)Co., Ltd’s mission is to build China’s leading cell therapy company by leveraging Juno’s world-class chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies together with WuXi AppTec’s R&D and manufacturing platform and local expertise to develop novel cell-based immunotherapies for patients with hematologic and solidorgan cancers. James Li, M.D., formerly a Kleiner Perkins partner and General Manager of Amgen China, and a JW Biotechnology (Shanghai)Co., Ltd co-founder, has been appointed Chief Executive Officer of JW Biotechnology (Shanghai)Co., Ltd.
Financial terms: Juno and WuXi AppTec have equal initial ownership in JW Biotechnology (Shanghai)Co., Ltd, which after meeting certain conditions will have access to licensing product candidates from Juno’s pipeline for development and commercialization in China. In exchange, Juno will receive an upfront payment in equity, milestone payments, and royalties on any net sales. Dr. Ge Li will serve as Chairman of the Board of JW Biotechnology (Shanghai) Co., Ltd, and the remainder of the Board of Directors will initially include Dr. James Li, Hans Bishop, Steve Harr, M.D., Juno’s Chief Financial Officer and Head of Corporate Development, and Edward Hu, WuXi AppTec’s Chief Financial Officer and Chief Investment Officer.
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