Nurix Closes Roche Collaboration After HSR Clearance For Bexobrutide, Secures $700 Million Upfront
(RTTNews) – Nurix Therapeutics, Inc. (NRIX), a clinical-stage biopharmaceutical company, announced the closing of its previously announced global collaboration agreement with Roche Holding AG (RHHBY) to co-develop and co-commercialise Bexobrutideg, following expiration of the waiting period under the Hart-Cottrell-Rodino Antitrust Improvements Act of 1976.
Bexobrutideg (NX-5948) is an investigational, orally bioavailable small-molecule degrader of Bruton’s tyrosine kinase (BTK) being developed by Nurix and Roche as a potential therapy across oncology, immunology and neurology.
Under the terms of the agreement, Nurix will receive an upfront cash payment of $700 million and is eligible to receive development, regulatory, and sales milestones for potential total payments of up to $2.3 billion.
Nurix and Roche will advance the clinical development program for Bexobrutideg , including ongoing and planned studies in chronic lymphocytic leukaemia (CLL), additional B-cell malignancies, multiple sclerosis (MS) and chronic spontaneous urticaria (CSU).
The companies will also co-commercialise Bexobrutideg in the United States across all indications. Outside the United States, Roche will be responsible for commercialisation, with Nurix eligible to receive royalties ranging from the low to high teens.
As for development costs, 40% will be shared by Nurix and 60% by Roche. The parties will equally split the profits and losses from U.S. commercialisation.
About the global collaboration, Arthur T. Sands, president and chief executive officer of Nurix, said: “The collaboration marks a transformational moment for Nurix and the field of targeted protein degradation.”
Bexobrutideg is currently being evaluated in the Phase 2 DAYBreak CLL-201 clinical trial in patients with relapsed/refractory CLL, and in the NX-5948-301 Phase 1a/1b clinical trial in patients with relapsed/refractory B-cell malignancies.
For Bexobrutideg, additional trials are planned, including the Phase 3 DAYBreak CLL-306 clinical trial comparing Bexobrutideg to Pirtobrutinib in patients with relapsed/refractory CLL, and the NX-5948-203 Phase 1/2 clinical trial assessing the combination of Bexobrutideg with Venetoclax with or without an anti-CD20 antibody in patients with relapsed/refractory CLL and treatment-naïve CLL, according to the company.
NRIX has traded between $8.19 and $25.08 over the last year. The stock closed Monday’s trade at $23.48, up 3.39%.
In after-hours trading, NRIX is up 0.38% at $23.57.
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