On January 22, 2026, Janux Therapeutics (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technologies to its Tumor Activated T Cell Engager (TRACTr), and Tumor Activated Immunomodulator (TRACIr) platforms, announced a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb. Under the terms of the agreement, the companies will develop a tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types. Wilson Sonsini Goodrich & Rosati advised Janux on patent matters related to the transaction.

Under the terms of the collaboration and exclusive worldwide license agreement, Janux may receive up to $50 million in upfront and near-term milestone payments, and is eligible to receive development, regulatory, and commercial milestones up to approximately $800 million in the aggregate. Janux is also entitled to tiered royalties on global product sales.

The Wilson Sonsini team that advised Janux on patent matters included Laurie McNamara, Moonkyoung Um, Erin Boyle Anderson, and Mike Hostetler.

For more information, please see Janux’s press release. Additional coverage can be found on Fierce Biotech and BioSpace.