Gilead, Nurix in $2.3-Bn Pact for Protein-Degradation Drugs for CancerBy
Gilead and Nurix Therapeutics, a drug-discovery company specializing in the body’s natural process to control protein levels, have entered into a global collaboration to discover, develop and commercialize targeted protein degradation drugs for patients with cancer and other diseases, in a deal valued at $2.3 billion.
Under the agreement, Nurix will receive an upfront payment of $45 million and will be eligible to receive up to approximately $2.3 billion in total additional payments based on the successful completion of certain research, preclinical, clinical, regulatory and commercialization milestones as well as up to low double-digit tiered royalties on net sales.
Nurix’s technology platform is focused on the manipulation of the ubiquitin system and its component E3 ligases, the key enzymes responsible for controlling protein levels in human cells.
Under the multi-year collaboration, Nurix will use its proprietary drug-discovery platform to identify novel agents that use E3 ligases to induce degradation of specified drug targets and Gilead will have an option to license drug candidates directed up to five targets resulting from that work. The collaboration excludes Nurix’s lead degradation program for which Nurix retains all rights.
Nurix will retain the option to co-develop and co-detail up to two programs in the US, for which the parties will split development costs as well as profits and losses at a 50/50 basis. Nurix will be eligible to receive royalties on ex-US sales and reduced milestone payments.
Source: Gilead Sciences