By Michael Dabaie

 

Gilead Sciences Inc. said it agreed with Jounce Therapeutics Inc., a clinical-stage company focused on cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 immunotherapy program.

The antibody remains on track for filing an investigational new drug application in the first half of 2021, Gilead said.

Gilead will make a $85 million upfront payment to Jounce and a $35 million equity investment at a premium, the company said. Jounce may receive up to an additional $685 million in future clinical, regulatory and commercial milestone payments, Gilead said.

Jounce will be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales.

Jounce will lead development of JTX-1811 through IND clearance, and thereafter, Gilead will have the sole right to develop JTX-1811.

Gilead said it expects the transaction to close in the second half of 2020.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

September 01, 2020 09:04 ET (13:04 GMT)

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