Janux Therapeutics announced that it has nominated a development candidate under its collaboration and exclusive worldwide license agreement with Bristol Myers Squibb, triggering a $35 million milestone payment.
The milestone follows the identification of a tumor-activated therapeutic developed using Janux’s proprietary TRACTr platform. The candidate targets an undisclosed solid tumor antigen that is expressed across multiple human cancer types, marking a key step forward in the collaboration between the two companies.
Under the terms of the agreement, Janux is responsible for advancing the program through preclinical development and investigational new drug submission. Bristol Myers Squibb will take over responsibility for clinical development and global commercialization once the IND is filed. Janux will continue supporting the program through completion of the first Phase 1 clinical study.
In addition to the $35 million milestone tied to the development candidate nomination, Janux remains eligible for additional development, regulatory, and commercial milestone payments, as well as tiered royalties on any future global product sales resulting from the collaboration.
The announcement highlights continued progress for Janux as it advances its tumor-activated immunotherapy platforms, which include TRACTr, TRACIr, and ARM technologies. The company is already progressing multiple clinical-stage programs, including JANX007 targeting PSMA, JANX008 targeting EGFR, and JANX011 for autoimmune diseases.
KEY QUOTES:
“This milestone underscores the strength of our approach to generating value through both internal innovation and strategic partnerships, and reflects the continued promise of our tumor-activated platforms. The nomination of a development candidate highlights our ability to translate platform insights into differentiated therapeutics in collaboration with leading oncology companies.”
David Campbell, Ph.D., President and Chief Executive Officer, Janux Therapeutics
“We are pleased to reach this important milestone with Bristol Myers Squibb, which reflects strong collaboration between our teams and the disciplined execution of our research and development efforts. Advancing a program to development candidate nomination represents a key step toward IND-enabling studies and clinical development.”
Janeen Doyle, Chief Corporate and Business Development Officer, Janux Therapeutics
