Jounce bounce after collaboration bears fruit
In a major fillip for cancer biotech Jounce Therapeutics (Nasdaq: JNCE), Celgene (Nasdaq: CELG) has opted to license worldwide rights to JTX-8064, an antibody targeting the LILRB2 receptor on macrophages.
Shares in the Cambridge, Massachusetts-based company were up over a third in pre-market trading on Wednesday.
The firms signed a potential multi-billion dollar R&D deal in 2016, which delivered Jounce an upfront $225 million and a $36 million equity investment.
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