Biotech Values

[DewDiligence]

JUNO settles CAR-T patent litigation with NVS/UofP:

http://finance.yahoo.com/news/juno-therapeutics-announces-patent-litigation-120000233.html

Under the terms of the settlement, Novartis agreed to make payments to Juno including an initial payment of $12.25 million, future milestone payments, and mid-single digit royalties from U.S. net sales of product candidates related to the disputed contract and patent claims, as well as a low double digit percentage of the royalties Novartis pays to Penn for global net sales for those product candidates. Payments received by Juno will be shared with St. Jude under the terms of the license agreement between Juno and St. Jude. The parties also agreed to dismiss all claims in the relevant legal proceedings.