Janux Therapeutics secures collaboration with Bristol Myers Squibb

By Chris Stiles • Friday, January 23 03:34 • Permanent Link

Janux Therapeutics, Inc. (NASDAQ: JANX) has announced a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb to develop a novel tumor-activated therapeutic for solid tumors. Under the terms of the agreement, Janux will complete preclinical development up to IND submission, with Bristol Myers Squibb holding the IND and taking responsibility for subsequent development and global commercialization.

As part of the collaboration, Janux may receive up to $50 million in upfront and near-term milestone payments. Additionally, the company is eligible to receive development, regulatory, and commercial milestones up to approximately $800 million in the aggregate. Janux is also entitled to tiered royalties on global product sales.

This collaboration marks a significant milestone for Janux, validating the strength of its tumor-activated platforms and expanding its reach in solid tumor oncology. David Campbell, Ph.D., President, and CEO of Janux, expressed optimism about the collaboration, stating, "By combining Janux’s innovative technology with Bristol Myers Squibb’s deep expertise in clinical development and global commercialization, we aim to accelerate the delivery of transformative therapies to patients with difficult-to-treat cancers."

This news comes at a time when Janux is actively developing a broad pipeline of novel immunotherapies, with two tractr therapeutic candidates in clinical trials. The first targets prostate-specific membrane antigen (PSMA) for prostate cancer, while the second targets epidermal growth factor receptor (EGFR) for various types of cancer including colorectal carcinoma, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma, and triple-negative breast cancer.

It's clear that this collaboration has the potential to significantly impact Janux's development and commercialization efforts, providing the company with significant financial support and positioning it for further growth and success in the field of immunotherapy. Following these announcements, the company's shares moved 0.29%, and are now trading at a price of $13.76. Check out the company's full 8-K submission here.

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