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Gilead Exercises First License Option Under Agreement With Nurix Therapeutics

Vandana Singh
·2 分鐘文章

  • Gilead Sciences Inc (NASDAQ: GILD) has exercised its option to license Nurix Therapeutics Inc's (NASDAQ: NRIX) investigational targeted protein degrader molecule NX-0479 exclusively.

  • This bivalent degrader, GS-6791, is the first development candidate from the previously announced Nurix-Gilead collaboration.

  • GS-6791 is a potent, selective, oral IRAK4 degrader with potential applications in rheumatoid arthritis (RA) and other inflammatory diseases.

  • Under the terms of the Collaboration, Nurix will receive an option exercise payment of $20 million and potentially up to an additional $425 million in milestone payments, as well as up to low double-digit tiered royalties on product net sales.

  • In June 2019, Gilead and Nurix entered a global strategic collaboration to discover, develop and commercialize a pipeline of up to five innovative targeted protein degradation therapies for patients with cancer and other challenging diseases.

  • Under the terms of the agreement, Nurix received an upfront payment of $45 million and is eligible to receive up to approximately $2.3 billion in total additional milestone payments.

  • Nurix will retain the option to co-develop and co-detail up to two programs in the U.S.

  • For those programs, Nurix opts in to co-develop and co-detail, the parties will split development costs, profits, and losses 50/50 for the United States. Nurix will be eligible to receive royalties on ex-U.S. sales and reduced milestone payments.

  • Gilead has the right to veto up to one co-development option, which will revert back to Nurix for use on potential future licensed products.

  • Price Action: GILD shares are up 2.35% at $79.13 on the last check Monday.

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This article Gilead Exercises First License Option Under Agreement With Nurix Therapeutics originally appeared on Benzinga.com

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