Bristol's Celgene merger sees it bounce Jounce drug pact

After culling a $2.6 billion biobucks pact last year, Bristol Myers Squibb is making a second and final cut to its pact with four-year immuno-oncology biotech Jounce Therapeutics.

Last summer, Celgene (now Bristol) restructured its alliance with Jounce, dropping the broad $2.6 billion pact it formed in 2016 while securing full rights to a single asset. The changes cut Celgene’s ties to ICOS and PD-1 programs that overlapped with those in Bristol’s pipeline and portfolio as it prepared to be subsumed into its parent company.