An East coast company recently announced the merger of the Seattle-based biopharmaceutical company, Juno Therapeutics, Inc., in a roughly $9 billion acquisition.

Celgene Corporation, a global biopharmaceutical company based in New Jersey, agreed to pay Juno $87 per share in cash, and the transaction was approved by the boards of directors of both companies.

“The acquisition of Juno builds on our shared vision to discover and develop transformative medicines for patients with incurable blood cancers,” said Mark J. Alles, Celgene’s Chief Executive Officer. “Juno’s advanced cellular immunotherapy portfolio and research capabilities strengthen Celgene’s global leadership in hematology and adds new drivers for growth beyond 2020.”

The merger will angle Celegen to become a “preeminent cellular immunotherapy company,” enhanced by the research and development performed by Juno at its Seattle headquarters and Bothell manufacturing facility.

“The people at Juno channel their passion for science and patients towards a common goal of finding cures by creating cell therapies that help people live longer, better lives,” said Hans Bishop, Juno’s president and CEO. “Continuing this work will take scientific prowess, manufacturing excellence, and global reach. This union will provide all three.”