Jounce Thera inks deal with Celgene worth a potential $2.6 billion

US oncology start-up Jounce Therapeutics has entered into a global strategic collaboration with biotech major Celgene (Nasdaq: CELG) focused on developing and commercializing innovative immuno-oncology treatments for patients with cancer.

The accord includes options on Jounce’s lead product candidate, JTX-2011, targeting ICOS, and up to four early-stage programs to be selected from a defined pool of B cell, T regulatory cell and tumor-associated macrophage targets emerging from the Jounce Translational Science Platform and an additional option to equally share a checkpoint immuno-oncology program. Post option exercise, Jounce will lead global development and US commercialization for JTX-2011 and one additional collaboration program.

$225 million upfront payment