Bristol Myers Squibb will pay T-cell engager company Janux Therapeutics $50 million in the near term as part of a collaboration to work on a novel tumor-activated therapeutic.
The resulting candidate will target “a validated solid tumor antigen expressed across several human cancer types,” according to a Jan. 22 release. Janux will be responsible for preclinical development of the asset, with BMS taking the drug into human trials and beyond.
In return, Janux is set to receive up to $50 million in upfront and near-term milestone payments, with about $800 million in development, regulatory and commercial milestones potentially set to follow, on top of tiered royalties should the drug make it to market.
“This collaboration marks a significant milestone for Janux, validating the strength of our tumor-activated platforms and expanding our reach in solid tumor oncology,” Janux CEO David Campbell, Ph.D., said in this morning’s release.
“By combining Janux’s innovative technology with Bristol Myers Squibb’s deep expertise in clinical development and global commercialization, we aim to accelerate the delivery of transformative therapies to patients with difficult-to-treat cancers,” Campbell added.
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Janux set up shop in 2017 and is focused on its tumor-activated T-cell engager (TRACTr), tumor-activated immunomodulator (TRACIr), and adaptive immune response modulator (ARM) platforms. Merck & Co. is among the company’s previous backers.
San Diego-based Janux had a shaky end to the year, with the biotech’s stock halving in value after phase 1 data for its lead T-cell engager failed to live up to investors’ expectations. Still, analysts suggested the PSMAxCD3 immunotherapy compared “very favorably” to Novartis’ Pluvicto and continued to buy into the drug’s blockbuster potential.
T-cell engagers are antibody-based therapeutics that can reprogram T cells for antigen-specific elimination of target cells. The modality has remained a big draw for Big Pharma, with Eli Lilly penning an $865 million pact earlier this month to discover tumor-selective antigens with Cartography Biosciences.
BMS’ T-cell engager attempts have included pacts with Immatics and the pharma’s own BCMA bispecific T-cell engager alnuctamab—although BMS has abandoned work on both initiatives.
