Celgene, Jounce in immuno-oncology deal

Celgene Corp. (NASDAQ:CELG) obtained options to license multiple immuno-oncology programs from Jounce Therapeutics Inc. (Cambridge, Mass.), including lead candidate JTX-2011.

Celgene is to pay Jounce $225 million up front and make a $36 million equity investment in the biotech. Jounce is eligible for undisclosed option fees and $2.3 billion in development, regulatory and commercial milestones, plus tiered royalties. ...