Jounce jumps on $15M milestone from Gilead under cancer drug development pact
mediaphotos


Jounce Therapeutics (NASDAQ:JNCE) said it received a $15M clinical milestone payment from Gilead Sciences (NASDAQ:GILD) under their license agreement for cancer drug GS-1811.
The company noted that GS-1811 (formerly JTX-1811), an anti-CCR8 antibody, is aimed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells in the tumor microenvironment.

Under the September 2020 agreement, Gilead invested $35M in Jounce's common stock and paid $85M upfront. Jounce led the development of JTX-1811 through IND clearance, after which Gilead obtained the sole right to develop and commercialize the program.
Jounce noted that it may also receive up to an additional $645M in future clinical, regulatory and commercial milestone payments, plus royalties.
JNCE +3.20% to $2.26 premarket Nov. 2
GILD -1.02% to $78.53 premarket