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JNCE > Jounce ends 2016 with $75M IPO offering

S-1 here


http://www.fiercebiotech.com/biotech/jounce-ends-2016-75m-ipo-offering

Six months after nabbing a potential $2.6 billion deal with Celgene, early-stage biotech Jounce has filed for a $75 million IPO that could serve as a broader litmus test for public offerings at the start of 2017.

The Third Rock incubated, Cambridge, MA-based biotech has had a strong few months, and its attempted IPO comes after it struck an I/O deal with Celgene in the summer, with an upfront payment of $225 million and an equity investment of $36 million.

The deal was pretty substantial given that Jounce’s lead candidate that’s included in it, JTX-2011, has only just entered the clinic in advanced, solid tumors. The candidate was in fact only preclinical when the Celgene deal was first struck.

JTX-2011 is a mAb that specifically targets ICOS, the inducible T-cell costimulator, a protein on the surface of some T-cells that is thought to stimulate an immune response against cancer.

Jounce’s Translational Science Platform is based on applying a bioinformatics approach to specific cell types in the tumor microenvironment.