Overview
- Janux and Bristol Myers signed an exclusive worldwide license to develop a tumor-activated T-cell engager for solid tumors targeting an undisclosed antigen.
- Janux will receive $50 million in upfront and near-term payments, with total potential payments reported at about $800 million to as much as $850 million, plus tiered royalties.
- Janux will advance the program through IND submission, after which Bristol Myers will lead clinical development and commercialization, with Janux supporting the first Phase 1 study.
- The approach uses a “masked” engager intended to activate primarily in tumor tissue to reduce healthy‑tissue targeting and cytokine‑related toxicity.
- Janux shares rose on the news, and William Blair’s Matt Phipps called the deal further validation while noting that upcoming clinical updates will be critical for investor confidence.