Janux licenses tumor-activated therapeutic to BMS for solid tumors; up to $800M milestones

Janux Therapeutics, Inc.

Upfront $15M and near-term milestone $35M; total milestones up to ~$800M.
Janux responsible for preclinical through IND; BMS handles later development and commercialization.
Tiered royalties on global net sales: high-single to low-double digit percentages.
Collaboration validates Janux's TRACTr/TRACIr/ARM platforms for solid tumor oncology.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Janux Therapeutics, Inc. entered into Collaboration Agreement with Bristol-Myers Squibb Company valued at upfront payment of $15 million (effective 2026-01-21).

Action: entry
Agreement: license
Counterparty: Bristol-Myers Squibb Company
Value: upfront payment of $15 million
Effective: 2026-01-21

Exact text from the filing

On January 21, 2026, Janux Therapeutics, Inc. (“Janux” or the “Company”) and Bristol-Myers Squibb Company (“BMS”) entered into an exclusive license and collaboration agreement (the “Collaboration Agreement”) to develop and commercialize an undisclosed, novel tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types (the “Collaboration Target”).

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Janux Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-019520

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