Janux Therapeutics partners with Bristol Myers Squibb in a global license deal to develop a novel tumor-activated immunotherapy for solid tumors, with up to $850 million in milestones and tiered royalties.
Written By: Pharmacally Medical News Desk
Janux Therapeutics, Inc. 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 program targets a validated tumor antigen that is expressed across multiple human cancer types, underscoring its potential broad applicability in oncology.
The collaboration centers on Janux’s proprietary tumor-activated platforms, which are designed to enhance anti-tumor immune activity while reducing systemic toxicity. These include the Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) technologies. By combining these platforms with Bristol Myers Squibb’s experience in late-stage development and global commercialization, the partners aim to accelerate the path from discovery to patients.
Under the terms of the agreement, Janux will lead preclinical development of the undisclosed therapeutic through Investigational New Drug (IND) submission. Following IND clearance, Bristol Myers Squibb will assume responsibility for clinical development and worldwide commercialization. Janux will remain actively involved during early clinical development, supporting Bristol Myers Squibb through completion of the first Phase 1 clinical study.
Financially, the deal includes 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 totalling up to approximately $800 million, along with tiered royalties on global product sales. The structure reflects confidence in the scientific rationale of the program and its long-term commercial potential.
Commenting on the agreement, Janux President and CEO David Campbell, Ph.D., said the collaboration validates the strength of the company’s tumor-activated platforms and expands its reach in solid tumor oncology. He emphasized that combining Janux’s technology with Bristol Myers Squibb’s clinical and commercial capabilities could help bring new treatment options to patients with difficult-to-treat cancers.
Beyond these programs, Janux is advancing additional CD3-based TRACTr and CD28-based TRACIr candidates, including a PSMA-TRACIr designed for combination use with JANX007 and a TROP2-TRACTr aimed at TROP2-positive solid tumors. The company is also progressing its first ARM platform candidate, a CD19-ARM, toward clinical trials for the potential treatment of autoimmune diseases.
This collaboration with Bristol Myers Squibb represents a strategic step for Janux as it seeks to extend the impact of its tumor-activated technologies beyond early-stage development and into large-scale clinical and commercial execution.
References
Janux Therapeutics Announces Collaboration and Exclusive Worldwide License Agreement with Bristol Myers Squibb to Develop a Novel Tumor-Activated Therapeutic for Solid Tumors, 22 January 2026, https://investors.januxrx.com/investor-media/news/news-details/2026/Janux-Therapeutics-Announces-Collaboration-and-Exclusive-Worldwide-License-Agreement-with-Bristol-Myers-Squibb-to-Develop-a-Novel-Tumor-Activated-Therapeutic-for-Solid-Tumors/default.aspx