Jounce rockets on news of novel immunotherapy program licensing
US clinical-stage biotech Jounce Therapeutics’ (Nasdaq: JNCE) shares ratcheted up nearly 49% to $7.19 in mid-morning trading, having soared as much as 97% pre-market, after it announced a lucrative out-licensing deal for its JTX-1811 immunotherapy program with Gilead Sciences (Nasdaq: GILD).
JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The target of JTX-1811 is CCR8, a chemokine receptor enriched on TITR cells. When JTX-1811 binds to CCR8, it targets TITR cells for depletion by enhanced antibody-dependent cellular cytotoxicity mechanism. The antibody remains on track for filing an Investigational New Drug (IND) application in the first half of 2021.
Financial terms of the deal
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