Press Release

Nextech Invest New Portfolio Company Jounce Therapeutics Raises US$ 56 million in Oversubscribed Series B Financing

Zurich (Switzerland), April 24, 2015 - Nextech Invest Ltd., the Swiss specialist oncology private equity investor, today announced the successful completion of a US$ 56 million Series B financing of Jounce Therapeutics (Cambridge, Massachusetts, USA). The company, led by a world-class management team, focuses on the discovery and development of novel cancer immunotherapies coupled to patient selection.

Investors in the round besides Nextech Invest include Wellington Management Company, Redmile Group, Pharmstandard International, Cormorant Asset Management, Omega Funds, Casdin Capital, Foresite Capital Management and an undisclosed blue chip public investment fund. Proceeds from the financing will be used to advance Jounce's pipeline of cancer immunotherapy programs, including moving its lead program focused on Inducible T cell Co-stimulator (ICOS) into clinical testing, as well as advancing a second program through IND enabling studies. In addition, the investment will support the expanded discovery of novel treatments aimed at tumors that are less likely to respond to T cell checkpoint monotherapy, including therapies that target innate immune and stromal cells.

"We are incredibly pleased to have the support of this group of investors and are in a strong position to advance multiple programs toward human clinical proof of concept studies, including our ICOS agonist monoclonal antibody," said Richard Murray, Ph.D., chief executive officer of Jounce Therapeutics.

"We look forward to working with this world-class management team, which is planning to advance several programs into clinical development over the next two years," said Alfred Scheidegger, Founding Partner at Nextech Invest Ltd.

"Jounce was originally founded by Third Rock, Jim Allison and Padmanee Sharma in 2013 and is in a strong position to leverage the science from its scientific advisors and in-house discovery efforts to drive the current revolution in cancer immunology," said Thilo Schroeder, Partner at Nextech Invest Ltd.

Jounce Therapeutics is the third investment of Nextech Invests' Oncology IV fund after investing in Peloton Therapeutics in October 2014 and Kura Oncology in March 2015. The Oncology IV fund had a first closing of US$ 40 million in September 2014 and is targeting a final close of US$ 100 million.

Nextech Invest currently holds ten companies in its portfolio, all focusing on different cancer treatments and indications. The portfolio includes Blueprint Medicines, ImaginAb, Jounce Therapeutics, Kura Oncology, MacroGenics [NASDAQ:MGNX], MolecularMD, Peloton Therapeutics, Sunesis Pharmaceuticals [NASDAQ:SNSS], TetraLogic Pharmaceuticals [NASDAQ:TLOG], and TRACON Pharmaceuticals [NASDAQ:TCON]. From its fourteen oncology investments since 2007, Nextech Invest has made three full exits, two partial exits and three IPOs.

About Jounce Therapeutics
Jounce Therapeutics is dedicated to transforming the treatment of cancer through discovering and developing novel cancer immunotherapies with the potential to drive significantly more durable responses to treatment, extending and improving patients' quality of life. Jounce utilizes translational science insights to match the right targets to well defined patient populations in order to achieve a higher probability of success and rapid proof-of-concept. The company is pursuing programs against multiple targets in the T cell checkpoint area, as well as programs beyond T cell checkpoints, where current immunotherapies are less likely to be effective. Founded by world leaders in tumor immunology, cancer biology and clinical and translational medicine, Jounce Therapeutics was launched in 2013 with initial funding from leading life sciences investor, Third Rock Ventures. For more information, please visit www.jouncetx.com.

About Nextech Invest Ltd.
The global oncology specialist venture capital firm Nextech Invest Ltd., established in 1998 in Zurich, Switzerland, focuses on investing in cancer companies. Supported by a Scientific Advisory Board of six oncologists chaired by Prof. Dr. David Livingston, Deputy Director Dana-Farber/Harvard Cancer Center, Nextech Invest is investing in emerging companies with pioneering innovations in cancer research that have compounds entering clinical trials. The other members of the Scientific Advisory Board are: Prof. Dr. Karl-Heinz Altmann, Prof. Dr. William Kaelin, Prof. Dr. Sir Bruce Ponder, Dr. Charles Sawyers and Prof. Dr. Paul Workman. Nextech Invest is a longstanding member of leading networks in private equity, such as SECA and EVPA. Nextech Invest works closely with the Union for International Cancer Control (UICC).

For more information, please contact:

Thilo Schroeder
Nextech Invest Ltd.
Tel.: +41 44 366 66 14
schroeder@nextechinvest.com
www.nextechinvest.com

Nextech IV Oncology S.C.S. SICAV-SIF (the "Partnership") is established under the laws of the Grand Duchy of Luxembourg and compliant for distribution to qualified investors in Switzerland. The Swiss representative is Carnegie Fund Services SA, 11, rue du Général-Dufour, 1204 Geneva. The Swiss paying agent is Banque Cantonale de Genève, 17, quai de l'Ile, 1204 Geneva. Qualified investors can obtain the Issuing Document, the Limited Partnership Agreement, as well as the annual reports for the Partnership and the un-audited quarterly investor reports free of charge from the Swiss representative.