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 snapshot: Gilead’s latest significant cancer deal brings it a CCR8 binder, a novel preclinical immunotherapy, while Jounce finds a new deep-pocketed partner after the termination of its collaboration with Celgene.
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.