Nurix receives $700 million upfront to co-develop bexobrutideg, an oral BTK degrader targeting chronic lymphocytic leukemia and other diseases
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Roche entered into an exclusive licensing and collaboration agreement with Nurix Therapeutics to co-develop and co-commercialize bexobrutideg, an investigational oral drug targeting blood cancers, in a deal valued at up to $2.3 billion, the companies said Monday.
Nurix will receive $700 million in cash upfront, with additional payments based on development, regulatory, and sales milestones. The total value could reach $2.3 billion. Roche will cover 60% of development costs, while Nurix will pay the remaining 40%.
Within the U.S. market, the two companies will share any profits or losses on an even basis. For sales elsewhere, Roche takes the commercial lead and compensates Nurix through royalties in the low- to high-teens percentage range, the company said. The deal is expected to close in the third quarter of 2026, according to RTTNews.
Bexobrutideg works by recruiting the body's own protein-destruction machinery to break down Bruton's tyrosine kinase, or BTK, an enzyme whose signaling activity drives the growth and survival of certain blood cancer cells. Unlike conventional BTK inhibitors, which block the protein's activity, bexobrutideg degrades the protein itself, the company said. The drug has shown responses in early clinical studies in chronic lymphocytic leukemia patients who progressed on other therapies, including those with resistance mutations to existing BTK inhibitors.
The agreement encompasses therapeutic programs in hematologic malignancies, immunology, and neurology, broadening Roche's existing hematology franchise into new disease areas. In addition to ongoing pivotal Phase 2 and Phase 3 trials in chronic lymphocytic leukemia, the companies plan Phase 2 trials in multiple sclerosis and chronic spontaneous urticaria, the company said. Phase 3 trial initiation in chronic lymphocytic leukemia is planned for this summer, according to Reuters.
"We believe bexobrutideg represents a major leap forward in the fight against complex blood cancers and other diseases," Roche CEO and Head of Global Product Development Levi Garraway said in a statement.
Nurix CEO Arthur T. Sands said the collaboration structure marks "a major step in Nurix's evolution toward becoming a fully integrated biotechnology company," in a statement. Goldman Sachs $GS & Co. LLC is acting as financial advisor to Nurix.
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