Shots:

• Janux to receive up to $500.5M/ target as upfront and milestones along with royalties on sales of product emerges from the collaboration- making a total deal value ~$1B. Merck will fund R&D performed under the agreement
• Merck to get an exclusive WW license to products & IP developed from the collaboration
• The focus of the collaboration is to leverage Janux’s TRACTr technology to engineer a novel- T cell engager candidates directed against two cancer targets selected by Merck

 ­ Ref: BusinessWire | Image: Merck