25 June 2019 - - US-based biopharmaceutical company Gilead Sciences, Inc. (NASDAQ: GILD) and Nurix Therapeutics, Inc., a company discovering drugs that harness the body's natural process to control protein levels, have forged a global strategic collaboration to discover, develop and commercialise a pipeline of innovative targeted protein degradation drugs for patients with cancer and other challenging diseases, the companies said.
Dysregulated and/or mutated proteins play a central role in the development and progression of many human diseases. Nurix's technology platform is focused on the manipulation of the ubiquitin system and its component E3 ligases, the key enzymes responsible for controlling protein levels in human cells.
Under the multi-year collaboration, Nurix will utilize its proprietary drug discovery platform to identify novel agents that utilise E3 ligases to induce degradation of specified drug targets and Gilead will have an option to license drug candidates directed to up to five targets resulting from the work.
Nurix will retain the option to co-develop and co-detail up to two programmes in the United States. The collaboration excludes Nurix's lead degradation program, for which Nurix retains all rights.
Under the terms of the agreement, Nurix will receive an upfront payment of USD 45m and will be eligible to receive up to approximately USD 2.3bn in total additional payments based on the successful completion of certain research, pre-clinical, clinical, regulatory and commercialization milestones as well as up to low double-digit tiered royalties on net sales.
For those programmes that Nurix opts in to co-develop and co-detail, the parties will split development costs as well as profits and losses 50/50 for the US, and Nurix will be eligible to receive royalties on ex-US sales and reduced milestone payments.
Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need.
The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California.
Nurix discovers drugs that harness the body's natural process to control protein levels. Nurix' pipeline is focused on developing drugs as treatments for hematologic cancers and immune-mediated diseases including immuno-oncology therapeutics for cancer. Nurix was founded by internationally-recognised experts in E3 ligase biology and immunology and is funded by life science investors Third Rock Ventures and The Column Group.
The company is headquartered in San Francisco, California.