backSAN FRANCISCO, July 20, 2016 — King & Spalding advised Jounce Therapeutics on a strategic collaboration with Celgene Corp. for the development and commercialization of innovative, immuno-oncology treatments for patients with cancer.
Under the terms of the collaboration, announced yesterday, Celgene will make an upfront payment to Jounce of $225 million. Jounce will also receive regulatory, development and net sales milestone payments as well as tiered royalties on sales outside the United States and will share profits within the United States. Aggregate payments for development, regulatory and commercial milestones could potentially be $2.3 billion in total across all programs reaching commercialization.
The King & Spalding team included San Francisco-based partner Tom Duley and senior associate Stephen Abreu, both of whom are corporate lawyers focused on the life sciences industry. Additional assistance was provided by partners Elaine Tseng, Jonathan Talansky, Peter Todaro and Laura Bushnell.
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