Business
Nurix Therapeutics Announces Extension of Strategic Collaboration with Gilead Sciences
Two-year extension of ongoing research collaboration intended to generate multiple additional clinical candidates Nurix will receive a $15.0 million extension
About this update from Nurix Therapeutics, Inc.
[{"type":"text","content":"Two-year extension of ongoing research collaboration intended to generate multiple additional clinical candidates Nurix will receive a $15.0 million extension fee, and will remain eligible for up to an additional $73.5 million in potential preclinical research milestones and licensing fees, and up to $1.7 billion in potential future development, regulatory, and sales milestones as well as royalties on future products Nurix continues to retain co-development and 50/50 profit sharing options on up to two programs in the United States SAN FRANCISCO, April 02, 2024 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical stage biopharmaceutical company developing targeted protein modulation drugs designed to treat patients with cancer and inflammatory diseases, today announced that Gilead Sciences has elected to extend the research term of the companies’ ongoing collaboration, originally established in 2019, by an additional two years. “Gilead’s extension of the research period of this agreement is a testament to the productivity of our collaboration to date. Most importantly, it increases the opportunity for additional clinical candidates and associated milestones to emerge from our work together with the Gilead team,” said Gwenn M. Hansen, Ph.D., chief scientific officer of Nurix. “Progress in the collaboration has already yielded the first development candidate GS-6791 (NX-0479), a potent, selective, oral IRAK4 degrader that has potential applications in the treatment of rheumatoid arthritis and other inflammatory diseases, which Gilead licensed in March 2023. With this extended research term, we aim to deliver multiple additional clinical candidates to advance a portfolio of novel targeted protein degrader therapies with Gilead.” Under the collaboration agreement, Nurix is deploying its proprietary drug discovery platform to identify novel agents that use E3 ligases to induce degradation of specified drug targets. Gilead has an option to license drug candidates resulting from the work, and Nurix retains co-development and co-detail options on up to two programs in the United States, subject to certain restrictions. For those programs that Nurix opts in to co-develop and co-detail, the parties will split development costs as well as profits and losses 50/50 for the United States, and Nurix will be eligible to recei...