Janux Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on next-generation immunotherapies, has entered into a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb to develop a novel, tumor-activated therapeutic for solid tumors. The partnership brings together Janux’s proprietary tumor-activated platforms with Bristol Myers Squibb’s established capabilities in clinical development and global commercialization.
Under the agreement, the companies will jointly advance an undisclosed therapeutic candidate designed to target a validated solid tumor antigen that is expressed across multiple human cancer types. The program will leverage Janux’s Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) technology platforms, which are engineered to activate selectively within the tumor microenvironment. This approach is intended to enhance anti-tumor efficacy while reducing off-tumor toxicity, a key challenge in solid tumor immunotherapy.
Janux will be responsible for completing preclinical development through submission of an Investigational New Drug (IND) application. Following IND acceptance, Bristol Myers Squibb will assume responsibility for holding the IND, conducting clinical development, and leading global commercialization efforts. Janux will continue to play an active role in the collaboration by supporting Bristol Myers Squibb through completion of the first Phase 1 clinical trial.
“This collaboration marks a significant milestone for Janux, validating the strength of our tumor-activated platforms and expanding our reach in solid tumor oncology,” said David Campbell, Ph.D., President and Chief Executive Officer of Janux Therapeutics. He added that combining Janux’s technology with Bristol Myers Squibb’s clinical and commercial expertise could help accelerate the development of new treatment options for patients with difficult-to-treat cancers.
The financial terms of the agreement include up to $50 million in upfront and near-term milestone payments to Janux. In addition, Janux is eligible to receive development, regulatory, and commercial milestone payments totaling up to approximately $800 million. The company will also receive tiered royalties on global product sales if the therapy reaches the market.
For Bristol Myers Squibb, the deal aligns with its strategy of expanding its oncology pipeline through external innovation, particularly in immuno-oncology and solid tumors. For Janux, the collaboration provides significant validation of its technology platforms, along with financial resources to support continued pipeline advancement. Together, the companies aim to bring forward a differentiated tumor-activated therapy that could address substantial unmet needs in cancer care.