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Gilead, Jounce Agree To License JTX-1811 Program

Gilead Sciences, Inc. (GILD) has reached an agreement with Jounce Therapeutics, Inc. (JNCE) to exclusively license its JTX-1811 program. JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The antibody remains on track for filing an Investigational New Drug application in the first half of 2021. Jounce will lead development of JTX-1811 through IND clearance, and thereafter, Gilead will have the sole right to develop JTX-1811.

Gilead will make a $85 million upfront payment to, and a $35 million equity investment at a premium in, Jounce upon closing. Jounce may also receive up to an additional $685 million in future milestone payments. Jounce will be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales, subject to certain adjustments.

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