Jounce Therapeutics, Inc., a company focused on the discovery and development of novel cancer immunotherapies coupled to patient selection strategies, completed a $56m Series B venture capital financing.
Backers 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.
The company intends to use the funds to advance its pipeline of cancer immunotherapy programs, including moving its lead program directed at Inducible T cell Co-stimulator (ICOS) into clinical testing, advancing a second program through IND-enabling studies, and supporting 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.
Launched in 2013 and led by Richard Murray Ph.D., chief executive officer, Jounce focuses on discovering and developing novel cancer immunotherapies using translational science insights to match the right targets to well defined patient populations in order to achieve a higher probability of success and rapid proof-of-concept.
The company is pursuing programs against multiple targets in the T cell checkpoint area, as well as programs beyond T cell checkpoints monotherapies, where current immunotherapies may be less likely to be effective.