Gilead, Jounce In License Agreement for Immunotherapy Program
September 01 2020 - 9:19AM
Dow Jones News
By Michael Dabaie
Gilead Sciences Inc. said it agreed with Jounce Therapeutics
Inc., a clinical-stage company focused on cancer immunotherapies
and predictive biomarkers, to exclusively license its JTX-1811
immunotherapy program.
The antibody remains on track for filing an investigational new
drug application in the first half of 2021, Gilead said.
Gilead will make a $85 million upfront payment to Jounce and a
$35 million equity investment at a premium, the company said.
Jounce may receive up to an additional $685 million in future
clinical, regulatory and commercial milestone payments, Gilead
said.
Jounce will be eligible to receive royalties ranging from high
single digit to mid-teens based upon worldwide sales.
Jounce will lead development of JTX-1811 through IND clearance,
and thereafter, Gilead will have the sole right to develop
JTX-1811.
Gilead said it expects the transaction to close in the second
half of 2020.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
September 01, 2020 09:04 ET (13:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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