Roche enters cancer drug deal worth up to $2.3 billion with Nurix Therapeutics

ZURICH, June 8 (Reuters) - Swiss pharmaceutical giant Roche has entered an exclusive licensing and collaboration agreement with Nurix Therapeutics worth up to $2.3 billion, the company said on Monday.

The deal focuses on blood cancer drug bexobrutideg, which degrades targeted proteins and is planned to enter a phase III clinical trial initiation for chronic lymphocytic leukaemia in the summer.

• Roche's Deputy Chief Medical Officer Stefan Frings said the drug could potentially be launched by the end of the decade, around 2030, if phase III trials are positive.

• Nurix will receive $700 million upfront, with possible payouts for development, regulatory and sales milestones.

• "We believe bexobrutideg could represent a major leap forward in the fight against complex blood cancers and other diseases," said Levi Garraway, Roche chief medical officer and head of global product development.

• The deal is expected to close in the third quarter of 2026.

• Development costs for the drug will be covered 60% by Roche and 40% by Nurix.

• The companies will co-commercialise the drug in the United States, where they will split the profits and losses equally, while Roche will commercialise outside the U.S., paying Nurix royalties.

(Reporting by Marleen Kaesebier and Oliver Hirt; Editing by Friederike Heine and Joe Bavier)