# Gilead Sciences will buy all the remaining rights for an experimental cancer therapy, GS-1811, from Jounce Therapeutics for $67 million.

*biotech · news · 2022-12-28 · Yahoo Canada Finance*

## Key points

- Gilead Sciences will acquire all remaining rights to GS-1811 from Jounce Therapeutics for $67 million.
- Jounce will no longer receive any future milestone payments or sales-based royalties for GS-1811.
- Gilead now has sole global responsibility for GS-1811's development and commercialization.
- The amended deal will reduce Gilead's 2022 earnings per share by 4 cents on both GAAP and non-GAAP basis.
- GS-1811 is in an early-stage trial targeting solid tumors by depleting tumor-suppressing T-cells.

FILE PHOTO: The logo of Gilead Sciences Inc pharmaceutical company is seen in Oceanside, California (Reuters) - Gilead Sciences will buy all the remaining rights for an experimental cancer therapy, GS-1811, from Jounce Therapeutics for $67 million, the drugmaker said on Tuesday. The amended licensing deal will bolster Jounce's cash resources in a challenging market for biotech companies. Shares of Jounce more than doubled to $1.68, while Gilead's shares fell marginally in after market trading. Gilead will now be solely responsible for all further development and commercialization of GS-1811 globally. The amended deal is expected to reduce its 2022 earnings per share by 4 cents on both GAAP and non-GAAP basis. GS-1811 is currently being evaluated in an early-stage trial for patients with solid tumors and works by selectively depleting T-cells that suppress the body's immune response and allow tumors to grow. In 2020, the drugmakers had agreed to collaborate on development of GS-1811, when Gilead made an upfront payment of $85 million to Jounce. Under the initial terms, Jounce was eligible to get up to $685 million in milestone payments from Gilead, of which it has received $40 million so far. With the amendment, Jounce will no longer receive the remaining milestone payments or any of the sales-based royalties for the therapy. (Reporting by Bhanvi Satija in Bengaluru; Editing by Shailesh Kuber)

**Companies:** Gilead Sciences Inc, Jounce Therapeutics
**Countries:** United States

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