Juno Therapeutics Scores $56M of Extension Financing
April 25, 2014
Juno Therapeutics, a Seattle-based biotech focused on bringing forward immunotherapies for cancer, has added $56 million in Series A funding, bringing the round total to $176 million. Juno’s initial funding of $120 million came predominantly from technology venture firm ARCH Venture Partners and the Alaska Permanent Fund, through a partnership managed by Crestline Investors. The completion of the Series A round includes expansions from founding investors, as well as investments from Bezos Expeditions and Venrock, among others.
Juno is a clinical stage company that brings together three leading cancer centers—Fred Hutchinson Cancer Research Center, Memorial Sloan-Kettering Cancer Center and Seattle Children’s Research Institute— to advance a broad pipeline of potential curative immunotherapy treatments. Juno’s goal is to drive multiple product candidates in select hematologic and solid tumor cancers to FDA licensure.
A number of pharmaceutical and biotechnology companies that have emerged out of the Seattle area in recent years have landed VC funding. Though the number of completed VC deals for these companies dropped from 19 in 2012 to 11 in 2013, the amount of capital invested increased from $126 million to $245 million, according to the PitchBook Platform. Capital invested so far this year has reached $191 million, already surpassing 2012's total and on pace to easily best the total amount invested in 2013.*