Juno Therapeutics Inc.’s shares rose more than 44 percent after news about the interest of Celgene Corp. to buy the Seattle-based drugmaker came out. Juno Therapeutics Inc is a leader in the effort to use the immune system to treat cancer.
If a deal is reached, it would continue a recent string of acquisitions by Celgene, which is under pressure to find ways to offset generic competition for top-selling cancer treatment Revlimid.
Celgene, based in Summit, New Jersey, agreed last week to buy closely held Impact Biomedicines for $1.1 billion upfront, gaining an experimental blood-cancer treatment.
If the deal will be closed it would rank among Celgene’s largest-ever deals.
Read further: Bloomberg