Gilead Sciences and Jounce Therapeutics Announce Exclusive License Agreement for Novel Immunotherapy Program
September 01 2020 - 8:30AM
Business Wire
– Gilead Will Have Exclusive Rights to
Develop and Commercialize Anti-CCR8 Antibody –
– Gilead to Make $85 Million Upfront Payment
and $35 Million Equity Investment –
Gilead Sciences, Inc. (Nasdaq: GILD) today announced an
agreement with Jounce Therapeutics, Inc. (Nasdaq: JNCE), a
clinical-stage company focused on the discovery and development of
novel cancer immunotherapies and predictive biomarkers, to
exclusively license its JTX-1811 program.
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the full release here:
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JTX-1811 is a monoclonal antibody designed to selectively
deplete immunosuppressive tumor-infiltrating T regulatory (TITR)
cells. The target of JTX-1811 is CCR8, a chemokine receptor
enriched on TITR cells. When JTX-1811 binds to CCR8, it targets
TITR cells for depletion by enhanced antibody-dependent cellular
cytotoxicity mechanism. The antibody remains on track for filing an
Investigational New Drug (IND) application in the first half of
2021.
“We are very pleased to add, upon closing of the transaction,
JTX-1811 to our pipeline of investigational immuno-oncology
therapies that have the potential to transform care for patients
with cancer,” said William A. Lee, PhD, Executive Vice President of
Research at Gilead Sciences. “JTX-1811 is complementary to our
other oncology candidates and has the potential to be first in a
new class of therapies as a treatment for people with both solid
tumors and hematological malignancies.”
“Gilead’s investment in Jounce and, specifically, JTX-1811
reinforces the value of our Translational Science Platform and
differentiated and sustainable approach to novel immuno-oncology
programs, focused on patients with cancer who have yet to benefit
from immunotherapy. We look forward to seeing JTX-1811 progress to
the clinic,” said Richard Murray, PhD, Chief Executive Officer and
President of Jounce Therapeutics. “Our mission to deliver the right
immunotherapy to the right patient population for meaningful and
long-lasting benefit remains at the core of our discovery and
clinical development work. Our JTX-1811 program is a prime example
of these efforts.”
Terms of the Agreement
Under the terms of the agreement, Gilead will make a $85 million
upfront payment to, and a $35 million equity investment at a
premium in, Jounce upon closing. In addition, Jounce may receive up
to an additional $685 million in future clinical, regulatory and
commercial milestone payments. Jounce will also be eligible to
receive royalties ranging from high single digit to mid-teens based
upon worldwide sales, subject to certain adjustments.
Jounce will lead development of JTX-1811 through IND clearance,
and thereafter, Gilead will have the sole right to develop
JTX-1811. JTX-1811 is not approved anywhere globally. Its efficacy
and safety have not been established.
This transaction, which is expected to close in the second half
of 2020, is subject to applicable antitrust clearance under the
Hart-Scott Rodino Antitrust Improvements Act and other customary
closing conditions.
About Jounce
Therapeutics
Jounce Therapeutics, Inc. is a clinical-stage immunotherapy
company dedicated to transforming the treatment of cancer by
developing therapies that enable the immune system to attack tumors
and provide long-lasting benefits to patients through a
biomarker-driven approach. Jounce currently has four
development-stage programs. Vopratelimab is a monoclonal antibody
that binds to and activates ICOS, and is currently being studied in
the EMERGE Phase 2 trial and Jounce plans to initiate an additional
Phase 2 predictive biomarker trial using TISvopra for patient
selection, SELECT. JTX-4014 is a PD-1 inhibitor intended for
combination use within the SELECT study and with Jounce’s broader
pipeline. JTX-8064 is a LILRB2 (ILT4) receptor antagonist that may
reprogram immune-suppressive tumor associated macrophages to an
anti-tumor state. Jounce expects JTX-8064 to enter the clinic in
2020. JTX-1811 is a monoclonal antibody targeting CCR8 which is
designed to selectively deplete T regulatory cells in the tumor
microenvironment. For more information, please visit
www.jouncetx.com.
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical
company that discovers, develops and commercializes innovative
medicines in areas of unmet medical need. The company strives to
transform and simplify care for people with life-threatening
illnesses around the world. Gilead has operations in more than 35
countries worldwide, with headquarters in Foster City, California.
For more information on Gilead Sciences, please visit the company’s
website at www.gilead.com.
Jounce Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the ability of the parties to close this transaction in a
timely manner or at all, the development of JTX-1811 and the
expected benefits of this transaction. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially. Factors that could cause or
contribute to such differences include, but are not limited to, the
ability to obtain regulatory approval for the transaction, and
inherent uncertainties associated with pharmaceutical product
development and commercialization. Risks and uncertainties facing
Jounce are described more fully in Jounce’s most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission as well as discussions of potential risks,
uncertainties, and other important factors in Jounce’s subsequent
filings with the Securities and Exchange Commission. You are
cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date of this press release.
Jounce undertakes no obligation to update or revise publicly any
forward-looking statements contained in this press release.
Gilead Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the ability of the parties to close this transaction
in a timely manner or at all, the ability of the parties to meet
potential milestones in the estimated timelines or at all and the
risk that the parties may not realize the expected benefits of this
collaboration. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements. These risks, uncertainties and other factors could
cause actual results to differ materially from those referred to in
the forward-looking statements. The reader is cautioned not to rely
on these forward-looking statements. These and other risks are
described in detail in Gilead’s Quarterly Report on Form 10-Q for
the quarter ended June 30, 2020, as filed with the U.S. Securities
and Exchange Commission. All forward-looking statements are based
on information currently available to Gilead, and Gilead assumes no
obligation to update any such forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200901005463/en/
Gilead Contacts: Douglas Maffei, PhD, Investors (650)
522-2739 Marni Kottle, Media (650) 522-5388 Jounce
Contact: Komal Joshi, Investors and Media (857) 320-2523
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