Gilead Sciences and Jounce Therapeutics Announce Exclusive License Agreement for Novel Immunotherapy Program
September 01 2020 - 8:30AM
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.
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 AgreementUnder 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 TherapeuticsJounce
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
StatementsThis 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
StatementsThis 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.
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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