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JW Biotechnology will focus on developing novel cell-based immunotherapies.
Juno Therapeutics and WuXi AppTec have started a new company in China, JW Biotechnology, according to an April 7, 2016 press announcement. JW Biotechnology will leverage Juno’s chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies and WuXi AppTec’s R&D and manufacturing platform to develop novel cell-based immunotherapies for patients with hematologic and solid organ cancers. James Li, MD, formerly a Kleiner Perkins partner and general manager of Amgen China, and a JW Biotechnology co-founder, has been appointed chief executive officer of JW Biotechnology.
Juno and WuXi AppTec have equal initial ownership in JW Biotechnology, 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 net sales.
Source: WuXi AppTec