JOUNCE THERAPEUTICS, INC. (NASDAQ:JNCE) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.
into a Lease Termination Agreement (the Lease Termination) with
Cambridge 1030 Mass Ave, LLC (the Landlord) which terminated the
Lease, dated March 28, 2013, by and between the Company and the
Landlord, successor-in-interest to HCP/LREP Ventures I, LLC (the
Lease), to which the Company leased approximately 17,807 square
feet of office and lab space of the building located at 1030
Massachusetts Avenue, Cambridge, MA 02138. to the Lease
Termination, the Lease will be terminated in two phases. The
Lease with respect to Suite 400 will terminate on May 31, 2017,
and the Lease with respect to the first floor premises will
terminate on August 31, 2017 (the Lease Termination Date) rather
than October 25, 2018 as contemplated by the Lease. The Company
will have no further rent obligations to the Landlord to the
Lease after the Lease Termination Date.>The Landlord has
agreed to permit the early termination of the Lease in exchange
for, inter alia, Tenants payment of Two Hundred Seventy-Six
Thousand Five Hundred Sixty-Four and 69/100 ($276,564.69) Dollars
as an early termination fee and not a penalty.
purport to be complete and is qualified in its entirety by
reference to the Lease Termination, a copy of which is attached
as Exhibit 10.1 hereto and is incorporated herein by reference.
Agreement (the Sublease Termination) with Manus Biosynthesis,
Inc. (the Sublessor) which terminated the Sublease, dated as of
May 11, 2015, by and between the Company and Sublessor (the
Sublease), to which the Company subleased approximately 11,980
square feet of space of the building located at 1030
Massachusetts Avenue, Cambridge, MA 02138. to the Sublease
Termination, the Sublease will terminate on May 31, 2017 (the
Sublease Termination Date), rather than March 31, 2018 as
contemplated by the Sublease, with the Company having no further
rent obligations to the Sublessor to the Sublease after the
Sublease Termination Date. As consideration for the early
termination of the Sublease, simultaneous with the execution of
the Sublease Termination, the Company has remitted to Landlord
the sum of Four Hundred Forty Thousand Five Hundred Sixty and
99/100 ($440,560.99) Dollars as an early termination fee and not
a penalty.
purport to be complete and is qualified in its entirety by
reference to the Sublease Termination, a copy of which is
attached as Exhibit 10.2 hereto and is incorporated herein by
reference.
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Exhibit No.
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Description
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10.1
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Lease Termination Agreement by and between Cambridge
1030 Mass Ave, LLC (as successor in interest to HCP/LFREP Ventures I, LLC) and Jounce Therapeutics, Inc., dated May 19, 2017 |
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10.2
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Sublease Termination Agreement by and between Manus
Biosynthesis, Inc. and Jounce Therapeutics, Inc., dated May 19, 2017 |
About JOUNCE THERAPEUTICS, INC. (NASDAQ:JNCE)
Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. The Company is engaged in developing therapies that enable the immune system to attack tumors. Through the use of its Translational Science Platform, the Company 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 lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator (ICOS), a protein on the surface of certain T cells found in a range of solid tumors. The Company has initiated JTX-2011 multi-arm Phase I/II clinical trial in patients with solid tumors. The Company is also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. The Company is developing JTX-4014, a fully human Immunoglobulin G 4 (IgG4) monoclonal antibody. JOUNCE THERAPEUTICS, INC. (NASDAQ:JNCE) Recent Trading Information
JOUNCE THERAPEUTICS, INC. (NASDAQ:JNCE) closed its last trading session up +0.03 at 22.00 with 178,363 shares trading hands.