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17 December 2014

Juno aims for $213m IPO

Juno Therapeutics, an immunotherapy firm, is targeting $213m in its upcoming IPO.

Author: Gregg Bayes-Brown, editor

Juno Therapeutics, a US-based company developing immunotherapies for cancer, is planning to raise $213m in its upcoming IPO, an increase from the previously announced $150m.

Juno, a spin-out of Hutchinson Cancer Research Centre, the Seattle Children's Research Institute, and New York City-based Memorial Sloan-Kettering Cancer Centre, has revealed its range as $21 to $23 per share, with 9.3 million on offer.

Arch Venture Partners, a US-based venture fund supporting firms utilising intellectual property derived from universities and research institutes and itself a spin-out of the University of Chicago, is a key investor in Juno, holding around a 15% stake. Other backers include oil revenue derived investment vehicle Alaska Permanent Fund, Amazon founder Jeff Bezos’ personal investment fund Bezos Expeditions, and the Rockefeller family’s venture firm Venrock. Fred Hutchinson is also named as a stakeholder in Juno with a 5.17% share in the company.

In total, Juno has raised $310m over two rounds, including Global University Venturing’s Deal of the Year 2014 in which the company raised $176m in a series A.

The company plans to float on the Nasdaq under the symbol JUNO, with Morgan Stanley, J.P. Morgan, and Goldman Sachs all underwriting the IPO.

Juno’s intellectual property is based around reprogramming the body’s T-Cells to recognise and target tumours. 

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