Gilead and Nurix Establish Strategic Collaboration to Develop Novel Therapies for Cancer and Other Diseases
June 19 2019 - 8:30AM
Business Wire
-- Collaboration will Leverage Nurix’s
Proprietary Drug Discovery Platform to Identify Novel Agents that
Induce Degradation of Specified Drug Targets --
Gilead Sciences, Inc. (Nasdaq: GILD) and Nurix Therapeutics,
Inc., a company discovering drugs that harness the body’s natural
process to control protein levels, today announced a global
strategic collaboration to discover, develop and commercialize a
pipeline of innovative targeted protein degradation drugs for
patients with cancer and other challenging diseases.
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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
utilize 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 programs in the
United States. The collaboration excludes Nurix’s lead degradation
program, for which Nurix retains all rights.
“There are many molecular targets involved in disease pathways
that have traditionally been challenging to manipulate using
conventional approaches,” said John McHutchison, A.O., M.D., Chief
Scientific Officer and Head of Research and Development, Gilead
Sciences. “Nurix’s innovative protein degradation discovery
technology provides Gilead with a new strategy to interrogate these
drug targets, as we continue to build a pipeline of small
molecule therapeutics for patients with cancers and other
diseases.”
“Gilead is an ideal partner to help us bring potentially
transformative treatments to patients,” said Arthur T. Sands, M.D.,
Ph.D., Nurix’s Chief Executive Officer. “This partnership expands
our ability to build our pipeline of novel targeted protein
degradation drugs based on our established expertise in the field
of protein homeostasis, while we continue to independently advance
our lead programs into the clinic.”
Under the terms of the agreement, Nurix will receive an upfront
payment of $45 million and will be eligible to receive up to
approximately $2.3 billion 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
programs 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 U.S., and Nurix will be eligible to receive royalties
on ex-U.S. sales and reduced milestone payments.
About Gilead
Sciences
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. For more information on Gilead
Sciences, please visit the company’s website
at www.gilead.com.
About Nurix Therapeutics,
Inc.
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-recognized experts in E3 ligase
biology and immunology and is funded by leading life science
investors Third Rock Ventures and The Column Group. The company is
headquartered in San Francisco, California. For more information,
please visit http://www.nurix-inc.com.
Gilead Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the risk that the parties may not realize the potential
benefits of this collaboration, and Gilead may fail to discover,
develop and commercialize any product candidates for the treatment
of cancer and other diseases. All statements other than statements
of historical fact are statements that could be deemed
forward-looking statements. These risks, uncertainties and other
factors could cause actual results to differ materially from those
referred to in the forward-looking statements. The reader is
cautioned not to rely on these forward-looking statements. These
and other risks are described in detail in Gilead’s Quarterly
Report on Form 10-Q for the quarter ended March 31, 2019, as
filed with the U.S. Securities and Exchange Commission. All
forward-looking statements are based on information currently
available to Gilead, and Gilead assumes no obligation to update any
such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190619005092/en/
Gilead Contacts:Sung Lee, Investors(650) 524-7792
Nathan Kaiser, Media(650) 522-1853
Nurix Contact:Sara Zelkovic, Media(646) 876-4933
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