Janux Therapeutics rises on license deal with BMS

Janux Therapeutics’ (Nasdaq: JANX) shares closed up 14% at $15.14, after it announced a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb (NYSE: BMY).

Under the terms of the agreement, the companies will develop an undisclosed, novel, tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types.

“This collaboration marks a significant milestone for Janux, validating the strength of our tumor-activated platforms and expanding our reach in solid tumor oncology,” said David Campbell, president and chief executive of Janux, adding: “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.”