Months af­ter burst­ing in­to the bis­pe­cif­ic scene out of nowhere, Janux fol­lows the Mer­ck hype to an IPO

Hot off of a $1 bil­lion deal with Mer­ck signed in De­cem­ber, Janux Ther­a­peu­tics has been on a tear with vir­tu­al­ly back-to-back fi­nanc­ing rounds. Now, it’s ready for Wall Street.

Janux filed an IPO with the SEC Wednes­day with a $100 mil­lion pro­posed of­fer­ing, though that num­ber has be­come a place­hold­er for biotechs in the last 16 months who of­ten go on to raise much more.

De­cem­ber’s deal left Janux el­i­gi­ble for up to $500.5 mil­lion in up­front and mile­stone pay­ments ear­marked for each of two tar­gets se­lect­ed by Mer­ck. Talks of the deal had start­ed in per­son the Jan­u­ary be­fore the pan­dem­ic, and fi­nal­ized as the Janux pro­grams evolved, CEO David Camp­bell told End­points News in an in­ter­view.

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