Cel­gene re­struc­tures a big Jounce pact, ze­ro­ing in on new I/O path­way with $530M deal — and bump­ing ICOS

Cel­gene’s busi­ness team isn’t wait­ing for the big merg­er with Bris­tol-My­ers Squibb to go through be­fore sync­ing its strat­e­gy with the new moth­er ship.

Tues­day evening the big biotech un­veiled a $530 mil­lion deal — $50 mil­lion in up­front cash — to amend their al­liance with Jounce Ther­a­peu­tics $JNCE to gain world­wide rights to JTX-8064, an an­ti­body that tar­gets the LIL­RB2 re­cep­tor on macrophages. Their old, $2.6 bil­lion deal is be­ing scrapped, leav­ing Jounce with a pipeline that in­cludes the lead drug, the ICOS-tar­get­ing vo­prate­limab.

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