Celgene And Jounce Therapeutics Will Collaborate On Next-gen Cancer Treatments

Celgene Corporation and Jounce Therapeutics Inc. said early Tuesday they plan to collaborate on next-generation cancer treatments. As part of the partnership, Jounce will receive $225 million, a $36 million equity investment from Celgene and up to $2.3 billion in future milestone payments. Celgene will receive options to develop and commercialize Jounce's cancer tumor treatment, JTX-2011, along with other immunotherapies. Celgene shares fell 3.6% over the last three months, compared with a 3.2% rise in the S&P 500 .