The Fred Hutchinson Cancer Research Center (Fred Hutch) and Memorial Sloan-Kettering Cancer Center (MSKCC), along with pediatric partner Seattle Children’s Research Institute, have joined forces to launch Juno Therapeutics Inc., a new biotechnology company focused on bringing forward novel immunotherapies for cancer. Juno is being launched with an initial investment of $120M, making it one of the largest Series A biotech startups in history.
“The tumor regressions we are seeing across our Phase I trials at Memorial Sloan-Kettering, Fred Hutch and Seattle Children’s Research Institute are unprecedented,” said Michael Jensen, M.D., director of the Ben Towne Center for Childhood Cancer Research at Seattle Children’s Research Institute and a scientific co-founder of Juno. “I believe this is a transformative therapeutic platform for patients young and old that has the potential to save lives.”
Juno research will focus on late stage adult as well as childhood cancers. The greatest news here for kids cancer research is the benefits which will be realized by way of this collaborative effort by these three world leading research centers. While still only 3% of U.S. cancer research funding goes to kids cancers, and public funding for clinical development largely drying up, this joint effort will serve to accelerate the further development of immunotherapy and regulatory approvals.
There is still a very long road ahead, and the mission of Make Some Noise: Cure Kids Cancer Foundation, Inc. and Make Some Noise; Cure Kids Cancer – Northwest to raise both awareness and critically needed private research funding does not change. For the full story, visit www.geekwire.com/2013/cancer-research-startup-juno-therapeutics-raises-120m-largest-series-vc-deals.
