Jounce Gets $261m To Start, Milestone Fees Up To $2.3bn In Celgene Deal
A deal with Celgene Corp. worth $261m up front will save Jounce Therapeutics Inc. from having to wade into the treacherous market for initial public offerings in order to advance and accelerate its immuno-oncology research and development programs.
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Deal Watch: Celgene Reworks Alliance With Jounce, Gaining Global Rights To Macrophage-Targeting Candidate
Revised agreement of 2016 collaboration returns all vopratelimab rights to Jounce. Gilead fortifies antiviral pipeline in deals with Novartis, Durect.
A review of biopharma startup dealmaking and financing activity from January through March 2017, based on data from Strategic Transactions, showed a 19% decline in startup financing compared with the fourth quarter of 2016, but big pharmas provided capital in the form of alliance fees.
AnaptysBio, Jounce and ObsEva were the first three companies to go public in 2017 – all in January – while no therapeutics firms went public in January 2016. The difference? Better US biopharma stock performance.