Sanofi exercises license extension option to Nurix’s STAT6 program

Nurix Therapeutics (NRIX) announced that Sanofi (SNY) has exercised its option to exclusively license Nurix’s STAT6 program, including the drug development candidate NX-3911, an oral, highly selective STAT6 degrader. STAT6 plays a central role in type 2 inflammation, which drives diseases such as atopic dermatitis and asthma. Under the 2019 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 an option to license drug candidates resulting from the work, and Nurix retains its 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 and subsequently paid an additional $22 million one year later to expand the scope of the collaboration. To date, Nurix has received a total of $127 million from Sanofi as part of this collaboration and remains eligible for up to $465 million in development, regulatory, and commercial milestones per licensed program as well as royalties on future sales.