As its acquisition by Bristol-Myers Squibb (BMS) is underway, Celgene has agreed to restructure its July 2016 collaboration with Jounce Therapeutics. With the deal, Jounce has retained the worldwide rights to its pipeline excluding JTX-8064, which Celgene has now licensed for up to US$530 M. The deal comes as BMS continues to review the two companies’ pipelines and minimises the number of overlapping programmes.