BEVERLY HILLS, Calif., Jan. 22, 2015 /PRNewswire/ -- Knight Global, the family investment office of Relativity Media CEO and Co-Chairman Ryan Kavanaugh, has had a longstanding investment in Juno Therapeutics, a clinical-stage immuno-oncology company that completed its initial public offering in December 2014.
Kavanaugh has held shares in Juno Therapeutics since October 2013, when the company acquired ZetaRx, a privately-held biotechnology start-up in which Kavanaugh was a seed investor. ZetaRx was founded in 2008 by his father Dr. Jack Kavanaugh, who brought on several key collaborators still partnered with Juno, including The City of Hope the Fred Hutchinson Cancer Research Center.
Juno's groundbreaking scientific platform uses a patient's own T cells to develop therapeutic cancer immunotherapies based on its patented chimeric antigen receptor (CAR) and high-affinity T cell receptor (TCR) technologies. Juno assumed the various patents and patent applications that led to this breakthrough therapy through the ZetaRx acquisition, including patents and technologies related to CARs, T cell ablation, and defining T cell compositions and their use for immunotherapy.
"I am proud to be associated with the development of this groundbreaking cancer treatment," commented Mr. Kavanaugh. "The technology imagined and compiled by my father is creating new treatment options for patients with many incurable and non-treatable cancers. This could be the most important breakthrough in cancer we've witnessed, and knowing my father's hard work, dedication and goal to end cancer was a primary driver in creating this makes this a very special moment."
Juno Therapeutics' most advanced product candidates have demonstrated an 89%, 85% and 100% complete remission rate in three Phase I clinical trials in patients with adult and pediatric relapsed/refractory B cell acute lymphoblastic leukemia (r/r ALL). In addition, 60% of patients with relapsed/refractory B cell non-Hodgkin's lymphoma achieved either a complete or partial response in a Phase I clinical trial.1
Before the end of 2015, Juno plans to begin several additional clinical trials that could support accelerated FDA approval in r/r ALL, and Phase I trials for at least five additional product candidates are expected.
Juno Therapeutics closed its initial public offering of 12.7 million shares of common stock at a price to the public of $24.00 per share on December 23, 2014 – totaling over $4 billion in market capitalization – and currently trades on the NASDAQ under ticker JUNO.
Knight Global also has various other investments in the biotechnology sector, including an investment in Calhoun Vision, Inc., also formed by Ryan Kavanaugh's father, Dr. Jack Kavanaugh. The company has concluded Phase II clinical trials and is currently in Phase III trials for its Light Adjustable Lens (LAL).
About Knight Global
Knight Global is the family investment office of Ryan Kavanaugh. Knight makes strategic investments in companies across a range of industries, including biotechnology, real estate, consumer products and others. It currently holds more than a dozen investments totaling over $1 billion in value and invests in companies in which it can be an active, strategic investor, helping to bring value and growth to its portfolio companies. It also services as consultant to a number of companies. Knight also focuses on social entrepreneurism investments in companies that aim to make a change for good in the world. For example, DOG for DOG, one of the fastest growing dog food companies in the United States, which donates one bag of dog food to a shelter for every bag of food or treats sold.
1 Juno Therapeutics, Form S-1/A, (filed Dec. 18, 2014), pages 1-2, from Juno Therapeutics website, http://ir.junotherapeutics.com/phoenix.zhtml?c=253828&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTk5NTc5NzAmRFNFUT0wJlNFUT0wJlNRREVTQz1TRUNUSU9OX0VOVElSRSZzdWJzaWQ9NTc%3d, accessed Jan. 15, 2015.
SOURCE Ryan Kavanaugh