Roche has signed an exclusive licensing and collaboration agreement with Nurix Therapeutics valued at up to $2.3 billion.
The deal centers on bexobrutideg, a blood‑cancer therapy that degrades targeted proteins and will enter a Phase III clinical trial for chronic lymphocytic leukaemia in the summer.
Nurix receives an up‑front payment of $700 million; additional payments are contingent on development, regulatory and sales milestones.
Roche will cover 60% of the drug’s development costs, while Nurix funds the remaining 40%.
In the United States, the two companies will jointly market the drug, splitting profits and losses equally.
Roche will commercialize the product outside the U.S. and will pay royalties to Nurix on those sales.
The transaction is expected to close in Q3 2026.
Roche’s chief medical officer and head of global product development, Levi Garraway, stated the drug could represent a major leap forward against complex blood cancers.
Market reaction at the time of release showed Roche (RO) down 0.12% and Nurix (NRIX) down 4.19%.
