Juno Therapeutics, the Seattle-based biotech company making cutting-edge cancer immunotherapy treatments, has reached a deal to be acquired by New Jersey-based Celgene for $9 billion, or $87 per share. Juno’s stock price, already high following rumors of the impending deal last week, jumped another 26 percent Monday morning on the news, resting at $86.04 at 8 a.m. Pacific.

Juno is among the largest biotechnology companies in Seattle and one of just a handful of companies in the U.S. developing CAR T immunotherapies. Juno’s market value was $5.5 billion Tuesday afternoon and jumped to $7.7 billion Wednesday after reports of a possible acquisition. Its competitor, Kite Pharma, was acquired for $11.9 billion last year.

“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,” Juno CEO Hans Bishop said in a press release. “Continuing this work will take scientific prowess, manufacturing excellence and global reach. This union will provide all three.”

“The union of Juno with Celgene is good news for Seattle,” a Juno spokesperson told GeekWire. “Juno will remain at its new building in South Lake Union and its manufacturing facility in Bothell and our hiring plans remain unchanged. The fundamental mission of our organization is unchanged. We’ll… continue to pursue new and better therapies for patients and do so from our base here in Seattle.”

The company declined to comment on how the acquisition may impact its Seattle and Bothell, Wash., employees or its leadership, citing legal requirements.

Juno spun out of the Fred Hutchinson Cancer Research Center in 2013 and is developing a kind of cancer treatment called CAR T immunotherapy, which genetically reprograms patients’ immune cells to kill cancer. Juno’s current treatments are all aimed at blood cancers like lymphoma and leukemia. The approach is so new that the FDA only approved the first CAR T immunotherapy treatment to go to market in August of last year.

It has been backed by the likes of Amazon CEO Jeff Bezos, who invested in the company’s $145 million Series A round.

The acquisition caps a dramatic 12 months for Juno, which pulled its most advanced treatment in March following five patient deaths in clinical trials. Since then, Juno has revamped its R&D operations to focus on JCAR017, a treatment it says could be the most effective of its kind, running up expenses in the process.

But, it has returned positive results on that treatment and has continued to increase its revenue against expectations, partly due to a $1 billion agreement with Celgene that started in 2015.

Read Celgene’s full release on the acquisition agreement below: