Janux Therapeutics Inc shares went up by 3.6% in early Thursday trading. This happened after the company shared news of a new deal. Janux has partnered with Bristol Myers Squibb. The agreement covers a worldwide license and long term collaboration.
The two companies will work together on a new cancer treatment. The treatment is designed to activate only inside tumors. It will target a protein found in many solid cancers. This includes several common cancer types. The goal is to attack cancer cells while reducing harm to healthy tissue.
As part of the deal, Janux can receive up to $50 million early on. This includes upfront money and near term milestones. Over time, the total value of the deal could reach around $800 million. This depends on progress in development, approvals, and future sales.
Janux will lead the early lab and preclinical work. This will continue until the treatment is ready for human testing approval. After that, Bristol Myers Squibb will take control. It will run clinical trials and handle global sales. Janux will still stay involved during the first Phase 1 study and provide support.
Janux CEO David Campbell said the deal is a big moment for the company. He said it proves the strength of Janux’s technology. He also said it helps Janux grow its presence in solid tumor cancer research.
Janux will also earn royalties if the drug is sold globally. The partnership uses Janux’s in house platforms. These platforms are designed to guide the immune system to fight cancer in a more controlled way. The deal places Janux alongside one of the biggest names in cancer medicine and gives the company a strong path forward.
