Juno Therapeutics transfers German pension obligations to Funding Solutions

Funding Solutions completes its tenth pensioner company transaction with the assumption of the pension obligations of Juno Therapeutics GmbH (Juno). Juno is a subsidiary of Bristol Myers Squibb, specializing in the development of novel cell therapies for cancer treatment. As part of Juno's strategic realignment, the pension landscape was transferred to Funding Solutions - the transaction was executed by way of a demerger.

The transaction focuses on entitlements to occupational pensions under direct commitments, support fund commitments and deferred compensation arrangements. The obligations were transferred to Funding Solutions Therapeutics Pensions GmbH, based in Walldorf (Baden-Wuerttemberg). In addition to the pension liabilities, the corresponding plan assets - including reinsurance policies - were transferred to the new pensioner company. These assets serve to secure the long-term funding of the pension obligations and to finance all associated administrative costs.

With this transaction, Funding Solutions Deutschland further strengthens its position as a trusted partner in occupational pension provisions.

About Juno Therapeutics

Juno Therapeutics GmbH (Juno) is the German subsidiary of Juno Therapeutics, Inc. The company specializes in the development of innovative cell therapies for cancer treatment. Juno was acquired by Celgene in 2018, which was subsequently acquired by BioPharma group BMS. As part of the company's strategic realignment, the transfer of the German occupational pension obligations was initiated.

About Bristol Myers Squibb

Bristol Myers Squibb (BMS) is a global BioPharma company headquartered in New York. The company focuses on the research, development and commercialization of innovative therapies in areas such as oncology, hematology, immunology and cardiovascular diseases. BMS is listed on the New York Stock Exchange (NYSE: BMY) and is a constituent of major market indices such as the S&P 100 / 500.

About Funding Solutions

Funding Solutions Deutschland was founded in 2018 in Frankfurt am Main as a specialized provider for occupational pensions. Funding Solutions has further developed and established in Germany the Pension Buyout concept that originated in Anglo-Saxon markets. Today, Funding Solutions manages twelve pensioner companies with total transferred obligations exceeding half a billion euros. These include assumed obligations from industrial and service companies, the regulated banking sector, and the pharmaceutical industry - including the two largest pensioner company transactions ever executed in Germany. Among the pensioner companies managed by Funding Solutions are acquisitions from Wintershall Dea, AstraZeneca, JVCKENWOOD, Gategroup and Ryder Inc. As a specialized boutique, Funding Solutions combines actuarial expertise, transaction and due diligence experience, and a dedicated Pension & Investment Office under one roof. In addition, we support numerous multinational corporations in structuring, managing and overseeing their pension and investment landscapes.