Gilead Sciences exercises option to license Nurix's investigational targeted protein degrader molecule NX-0479

“The Nurix IRAK4 degrader program represents a quality modality targeting toll-like receptor and IL1 receptor-driven inflammation,” said Flavius Martin, M.D., Executive Vice President, Research at Gilead. “We are pleased to advance our collaboration with Nurix and further expand our autoimmune pipeline with the goal of addressing the needs of people living with inflammatory diseases.”

“Gilead’s exercise of the first license option under our agreement is an important milestone and evidence of the significant progress that we have made in our strategic collaboration,” said Gwenn M. Hansen, Ph.D., Chief Scientific Officer at Nurix. “Our highly productive DELigase platform has enabled us to advance multiple degrader programs in our collaboration with Gilead and across our wholly owned pipeline. This progress demonstrates the value of our research enterprise and its capacity to create medicines to address an array of therapeutic areas in addition to oncology.”

Under the terms of the parties’ Collaboration, Option and License Agreement, for the NX-0479 option that Gilead is exercising, Nurix will receive an option exercise payment of $20 million and potentially could receive up to an additional $425 million in clinical, regulatory, and commercial milestone payments, as well as up to low double-digit tiered royalties on product net sales.