Jounce Therapeutics Enters Agreement to be Acquired
Jounce Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of novel cancer immunotherapies, recently announced that it has entered into a definitive agreement to be acquired by Bristol Myers Squibb Company.
Background of Jounce Therapeutics
Jounce Therapeutics was founded in 2013 and is headquartered in Cambridge, Massachusetts. The company is focused on the discovery and development of novel cancer immunotherapies. It has developed a pipeline of immunotherapies designed to harness the power of the immune system to transform the treatment of cancer.
Jounce Therapeutics has a portfolio of immunotherapies that are designed to target and activate the immune system to fight cancer. These therapies include monoclonal antibodies, bispecific antibodies, and other immunomodulatory agents. The company has also developed a proprietary platform, called JTX-1811, which is designed to identify and develop novel immunotherapies.
Bristol Myers Squibb’s Acquisition of Jounce Therapeutics
Bristol Myers Squibb Company is a global biopharmaceutical company that is focused on discovering, developing, and delivering innovative medicines to patients. The company has a portfolio of medicines that are used to treat a wide range of diseases, including cancer, cardiovascular, and immunological diseases.
Bristol Myers Squibb recently announced that it has entered into a definitive agreement to acquire Jounce Therapeutics. Under the terms of the agreement, Bristol Myers Squibb will acquire all of the outstanding shares of Jounce Therapeutics for a total consideration of approximately $1.35 billion.
The acquisition of Jounce Therapeutics will expand Bristol Myers Squibb’s portfolio of immunotherapies and provide the company with access to Jounce Therapeutics’ proprietary platform, JTX-1811. The acquisition will also provide Bristol Myers Squibb with access to Jounce Therapeutics’ clinical-stage pipeline of immunotherapies, which are designed to target and activate the immune system to fight cancer.
Benefits of the Acquisition
The acquisition of Jounce Therapeutics by Bristol Myers Squibb will provide a number of benefits to both companies. For Bristol Myers Squibb, the acquisition will provide the company with access to Jounce Therapeutics’ proprietary platform, JTX-1811, and its clinical-stage pipeline of immunotherapies. This will enable Bristol Myers Squibb to expand its portfolio of immunotherapies and provide the company with a competitive advantage in the immuno-oncology market.
For Jounce Therapeutics, the acquisition will provide the company with the resources and expertise of Bristol Myers Squibb. This will enable Jounce Therapeutics to accelerate the development of its immunotherapies and bring them to market faster.
Outlook
The acquisition of Jounce Therapeutics by Bristol Myers Squibb is expected to close in the second quarter of 2021. Upon completion of the acquisition, Jounce Therapeutics will become a wholly-owned subsidiary of Bristol Myers Squibb.
The acquisition of Jounce Therapeutics is a strategic move by Bristol Myers Squibb to expand its portfolio of immunotherapies and gain a competitive advantage in the immuno-oncology market. The acquisition will also provide Jounce Therapeutics with the resources and expertise of Bristol Myers Squibb, which will enable the company to accelerate the development of its immunotherapies and bring them to market faster.