Janux Therapeutics, Bristol Myers Squibb Ink Up To $850M Deal To Develop Solid Tumor Cancer Drug

Janux Therapeutics, a clinical-stage biopharmaceutical company focused on next-generation cancer immunotherapies, has entered a collaboration and exclusive worldwide licence agreement with Bristol Myers Squibb to jointly develop a new therapeutic targeting solid tumours — cancers that form masses in organs such as the lung, breast, colon and pancreas. 

Under the terms of the agreement, Janux will complete the preclinical development of the undisclosed tumour-activated programme and submit an investigational new drug (IND) application, after which Bristol Myers Squibb will assume responsibility for clinical development and global commercialisation. Janux is expected to remain involved through early clinical testing, including support of the first Phase I study. 

Financial provisions of the deal provide Janux with up to $50 million in upfront and near-term milestone payments, with the potential to receive up to approximately $800 million more based on development, regulatory and sales milestones, in addition to tiered royalties on worldwide product sales if the therapy reaches the market. 

The collaboration leverages Janux’s proprietary tumour-activated platforms, which are designed to trigger targeted immune responses within the tumour microenvironment while limiting systemic toxicity, together with Bristol Myers Squibb’s development and commercial expertise.

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