Jounce Therapeutics Files for IPO

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Jounce Therapeutics has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing, but the offering is valued up to $75 million. The company intends to list its shares on the Nasdaq under the symbol JNCE.

The underwriters for the offering are JPMorgan, Cowen, Wells Fargo and Baird.

This year has been dismal for IPOs, but prospects could pick up next year. With 2017 just around the corner and markets reaching new highs, it looks like even more IPOs are coming.

This is a clinical stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identify related biomarkers designed to match the right therapy to the right patient.

The company’s strategy is to create immunotherapies targeting a variety of the diverse cellular components of the immune system, as well as non-immune cells resident within the tumor, all of which can vary greatly among tumors within and across indications. This may provide benefit to patients with tumors across the spectrum from highly inflamed, or hot, to poorly inflamed, or cold, and especially those not well served by current therapies.

Jounce’s management believes the early identification of potential predictive biomarkers to prospectively enrich for biomarker positive cancer patients, from across many indications, may lead to shortened development timelines for new immunotherapies. Its approach is designed to lead to a larger effect size by first identifying and then focusing on a smaller biomarker positive study population. Through this two-pronged approach, management believes its Translational Science Platform enables it to effectively and efficiently identify and develop new cancer immunotherapies.

The company intends to use the net proceeds from this offering to further develop and advance its pipeline, with the remainder going toward working capital and general corporate purposes.