Jounce Therapeutics (NASDAQ:JNCE) enters into an agreement with Gilead Sciences (NASDAQ:GILD) under which the latter will have exclusive global rights to preclinical immuno-oncology candidate JTX-1811, a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells via targeting a chemokine receptor called CCR8. An IND, a regulatory application seeking sign-off for clinical trials, should be filed in H1 2021.
Under the terms of the deal, Jounce will receive $85M upfront, a $35M equity investment at a premium, up to $685M in milestones and high single-digit-to-mid-teen royalties on net sales.
The transaction should close this year.
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