Gilead signs deal to license new cancer treatment
Gilead Sciences has unveiled an agreement with Jounce Therapeutics to exclusively develop and license its antibody programme, JTX-1811, which is designed to fight cancer cells.
According to the terms of the contract, announced yesterday, September 1, Gilead will make an $85 million upfront payment to Jounce, alongside a $35 million equity investment.
In addition, Gilead may pay Jounce up to an additional $685 million if it achieves future clinical, regulatory and commercial milestones. Jounce will also be eligible to receive royalties based upon worldwide sales.
This transaction, which is expected to close before the end of this year, is subject to antitrust clearance and other closing conditions.
According to Gilead’s announcement, the antibody remains on track for the filing of an Investigational New Drug (IND) application during the first half of 2021. Jounce will lead development of the antibody during the IND clearance, after which Gilead will then have the sole right to develop JTX-1811.
William Lee, executive vice-president of research at Gilead Sciences, said: “We are very pleased to add, upon closing of the transaction, JTX-1811 to our pipeline of investigational immuno-oncology therapies that have the potential to transform care for patients with cancer,” said.
He added: “JTX-1811 is complementary to our other oncology candidates and has the potential to be first in a new class of therapies as a treatment for people with both solid tumours and hematological malignancies.”
Richard Murray, CEO and president of Jounce Therapeutics, said: “Gilead’s investment in Jounce and, specifically, JTX-1811 reinforces the value of our translational science platform and differentiated and sustainable approach to novel immuno-oncology programmes, focused on patients with cancer who have yet to benefit from immunotherapy. We look forward to seeing JTX-1811 progress to the clinic.”
He added: “Our mission to deliver the right immunotherapy to the right patient population for meaningful and long-lasting benefit remains at the core of our discovery and clinical development work. Our JTX-1811 programme is a prime example of these efforts.”
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