Gilead (GILD) and Nurix Therapeutics (NRIX) announced that Gilead has exercised its option to exclusively license Nurix’s investigational targeted protein degrader molecule NX-0479. This bivalent degrader, designated GS-6791, is the first development candidate resulting from the previously announced Nurix-Gilead collaboration to discover, develop, and commercialize a pipeline of innovative targeted protein degradation therapies. 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 $20M and potentially could receive up to an additional $425M in clinical, regulatory, and commercial milestone payments, as well as up to low double-digit tiered royalties on product net sales.
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Published first on TheFly
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