Roche announced on June 8 a partnership with Nurix Therapeutics that could be worth up to $3 billion, focused on developing treatments for B cell malignancies. Under the agreement, Roche will pay Nurix $700 million upfront and provide up to $2.3 billion in additional milestone payments tied to development, regulatory, and sales achievements.
The companies will co-develop and co-commercialize bexobrutideg, an investigational BTK degrader. Roche will cover 60% of the development costs. Profits and losses from U.S. sales of the drug will be split equally between Roche and Nurix, while Roche will take primary responsibility for commercialization outside the U.S., with Nurix eligible for royalties ranging from the low- to high-teens.
Analysts at Truist Securities said in a note to investors, "We view the partnership as sensible and validating for [bexobrutideg’s] clinical profile, including its potential safety differentiation." The analysts also said that for Nurix specifically, "the agreement is 'necessary to address a key overhang around the capital intensity and execution risk' that comes with advancing BTK degraders." Following news of the deal, shares of Nurix rose 21% before market open.
Bexobrutideg is described as an orally available protein degrader designed to bind and destroy BTK—a central signaling molecule involved in B cell development—by using cellular machinery rather than simply deactivating it. This approach may help overcome treatment resistance associated with other drugs targeting this class. The companies plan to begin Phase 3 trials of bexobrutideg in chronic lymphocytic leukemia this summer.
Beyond chronic lymphocytic leukemia, Roche stated that the partnership would include “a clinical development plan spanning B-cell malignancies, immunology and neurology,” though specific diseases have not yet been named.
