Jounce Therapeutics, Celgene deal

Jounce granted Celgene options to license multiple immuno-oncology programs from Jounce, including lead candidate JTX-2011. Jounce will receive $225 million up front and a $36 million equity investment. Jounce is eligible for undisclosed option fees and up to $2.3 billion in development, regulatory and commercial milestones, plus tiered royalties.

Celgene will receive options to license JTX-2011 and up to four preclinical programs targeting B cells, regulatory T cells and tumor-associated macrophages. If Celgene opts in, it would receive exclusive commercialization rights outside the U.S. to the programs. The companies would share U.S. profits for each program. Jounce would lead global development and commercialization of JTX-2011 and one other program. Celgene may also opt to share rights to a Jounce preclinical checkpoint inhibitor program. ...