Janux Therapeutics Strikes Bristol Myers Biotech Deal Worth $800 Million

Janux Therapeutics, Inc. (NASDAQ:JANX) on Thursday announced a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb Co. (NYSE:BMY).

San Diego-based Janux will receive up to $50 million in upfront and near-term milestone payments, with potential total payments reaching approximately $800 million, including royalties on global product sales.

The collaboration allows Janux to complete preclinical development up to Investigational New Drug (IND) submission, while Bristol Myers Squibb will take charge of subsequent development and commercialization.

The U.S. Food and Drug Administration (FDA) IND submission is a formal request to start testing a new drug in human participants.

The collaboration is expected to enhance Janux’s capabilities in developing novel immunotherapies targeting solid tumors, with the company actively involved in supporting Bristol Myers Squibb through the first Phase 1 clinical study.

A Janux Milestone

The agreement marks a significant milestone for Janux, validating the strength of its tumor-activated platforms.

William Blair on Thursday wrote that, “We view the collaboration with Bristol Myers as further validation of Janux's tumor-activated platform.”

“We believe repeated interest from large pharma reinforces the ...