Jounce Therapeutics gains series B financing for $56 million

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Jounce Therapeutics gains series B financing for $56 million

Posted on 28 April 2015

Jounce Therapeutics announced the successful completion of a $56 million oversubscribed Series B financing.

Proceeds from the financing will be used to advance Jounce’s pipeline of cancer immunotherapy programs, including moving its lead program directed at Inducible T cell Co-stimulator (ICOS) into clinical testing, as well as advancing a second program through IND-enabling studies.

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In addition, the investment will support expanded discovery of novel treatments aimed at tumors that may be less likely to respond to T cell checkpoint monotherapy, including therapies that target innate immune and stromal cells.

Participation in the round included Wellington Management Company, Redmile Group, Nextech Invest, Pharmstandard International, S.A., Cormorant Asset Management, Omega Funds, Casdin Capital, Foresite Capital Management and an undisclosed blue chip public investment fund.

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