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Business

Celgene invests big in Jounce

by Ann M. Thayer
July 25, 2016 | APPEARED IN VOLUME 94, ISSUE 30

Celgene will pay $225 million up front and make a $36 million equity investment to collaborate with Jounce Therapeutics, a three-year-old company focused on cancer immunotherapies and predictive biomarkers. In return, Celgene will have options on Jounce’s lead product candidate, JTX-2011, and up to four early-stage programs. Expected to soon enter clinical trials, JTX-2011 is an antibody that activates a T-cell surface protein believed to stimulate an anticancer immune response. Jounce could earn up to $2.3 billion in milestone payments across all the programs.

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