Nurix Therapeutics announces Sanofi exclusively licensed a program

Nurix Therapeutics (NRIX) announced that Sanofi (SNY) has exclusively licensed an undisclosed Nurix program targeting a previously undruggable transcription factor for autoimmune diseases. The undisclosed target is a central regulator of the inflammation response and is distinct from the previously disclosed STAT6 degrader program. Under the collaboration agreement, Nurix is deploying its proprietary DEL-AI drug discovery platform to identify novel agents that use E3 ligases to induce degradation of specified drug targets. Sanofi has the right to license drug candidates resulting from the work, and Nurix has the option to co-develop and co-promote up to two future products in the United States after studies to assess dosing, efficacy, and safety that provide clinical proof of concept. For those programs for which Nurix exercises its option to co-develop and co-promote, the parties will split U.S profits and losses evenly and Nurix will be eligible to receive royalties on ex-U.S. sales on all optioned products. For programs that Nurix does not exercise its option, Nurix will receive milestones and royalties based on global development and sales. Upon signing the agreement in December 2019, Sanofi made an upfront payment of $55 million to Nurix and one year later paid an additional $22 million to expand the scope of the collaboration.