Gilead Sciences Sets Collaboration With Nurix Therapeutics
June 19 2019 - 9:19AM
Dow Jones News
By Colin Kellaher
Gilead Sciences Inc. (GILD) on Wednesday said it would
collaborate with privately held biotechnology company Nurix
Therapeutics Inc. to develop new therapies for cancer and other
diseases.
Gilead said it will make an upfront payment of $45 million to
Nurix, which is working to discover drugs that harness the body's
natural process to control protein levels.
San Francisco-based Nurix will also be eligible for up to
roughly $2.3 billion in additional milestone payments, along with
royalties on product sales, Gilead said.
The Foster City, Calif., biopharmaceutical company said it will
have an option to license drug candidates directed to up to five
targets resulting from its work with Nurix, which is backed by
life-science investors Third Rock Ventures and Column Group.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 19, 2019 09:04 ET (13:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Sep 2023 to Sep 2024