Jounce faces hos­tile takeover bid from mi­nor­i­ty stake­hold­er

Can­cer biotech Jounce Ther­a­peu­tics has got­ten a hos­tile takeover bid from Con­cen­tra Bio­sciences, a San Diego com­pa­ny backed by Tang Cap­i­tal Part­ners.

Tang Cap­i­tal is al­so a share­hold­er in Jounce, own­ing just over 10% of its shares, which ac­cord­ing to SEC doc­u­ments were all pur­chased in the last two months. But Jounce al­ready has a merg­er agree­ment with Redx Phar­ma that it an­nounced in Feb­ru­ary and was ex­pect­ed to com­plete in the sec­ond quar­ter of this year. Through that merg­er, Redx was plan­ning to jump on the Nas­daq.

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