Celgene Announces Deal with Jounce to Develop Cancer Drug

July 20, 2016

Celgene will offer a $225 million upfront payment to Jounce Therapeutics to develop cancer drugs, according to an article in The Boston Globe. The agreement, which could be worth as much as $2.3 billion, will fund a new type of drug that stimulates the immune system to fight tumors.

Celgene will take a $36 million equity stake in Jounce, and will share profits and losses from its experimental drug, JTX-2011. Read the full story