Jounce Therapeutics confirms receipt of unsolicited proposal from Concentra Biosciences
The Board of Directors of Jounce Therapeutics, Inc. a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, confirmed that Concentra Biosciences, LLC , of which Tang Capital Partners, LP is the controlling shareholder, has made an unsolicited and non-binding proposal to acquire 100% of the equity of Jounce. According to the Schedule 13D filed with the U.S. Securities and Exchange Commission (“SEC”) disclosing the Proposal, Tang Capital is currently approximately a 10.2% shareholder of Jounce.
On February 23, 2023, Jounce announced a recommended business combination with Redx Pharma via a proposed all share merger transaction . The transaction is anticipated to be completed during the second quarter of 2023, subject to necessary regulatory and shareholder approvals. Shareholders are advised that no action is necessary at this time.
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