Juno Therapeutics Inc. (NASDAQ: JUNO) shares continued to surge on Monday after Celgene Corp. (NASDAQ: CELG) had entered into an agreement to acquire Juno for a total of $9 billion or $87 per share. Juno shares rose 27 percent during Monday’s pre-market hours.

Juno prices surged 48 percent last Wednesday on reported talks of Celgene’s acquisition. Sources told The Wall Street Journal that the agreement could come within the next few weeks, but Celgene had announced on Monday its acquisition.

Juno excels in the development of CAR-T (chimeric antigen receptor) and TCR (T cell receptor) therapeutics. The company is devoted to making advances in medical advances to cellular immunotherapy.

With the acquisition of Juno, Celgene now expands upon its cancer related treatment portfolio. Celgene has been struggling to diversify its portfolio before its drug Revlimid loses its patent protection.

"The acquisition of Juno builds on our shared vision to discover and develop transformative medicines for patients with incurable blood cancers," said Mark 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." added Alles.

A week before the reports of acquiring Juno, Celgene had acquired Impact Biomedicines for $7 billion. Celgene may pay more in contingent payments dependent on the successfulness of Impact’s drug fedratinib, which also revolves around blood related cancers and diseases.

The acquisition will help accelerate Juno’s pipeline development to push out treatments as well making advancements in cellular immunotherapy. The acquisition will also accelerate revenue diversification for Celgene after 2020 and capturing 100 percent of global economics on all of Juno’s cellular immunotherapy assets.

The transaction is expected to close in the first quarter of 2018.