Nurix secures additional $15 million from Sanofi license deal

SAN FRANCISCO - Nurix Therapeutics, Inc. (NASDAQ:NRIX), a clinical-stage biopharmaceutical company with a current market capitalization of $810 million, today announced a $15 million license extension fee from Sanofi, related to the development of Nurix’s STAT6 program, including the drug candidate NX-3911. This payment increases Nurix’s total receipts from Sanofi to $127 million under their 2019 collaboration agreement. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 6.26, though it’s currently experiencing significant cash burn.

NX-3911 is an orally administered drug designed to degrade STAT6, a protein implicated in type 2 inflammation, which is a factor in diseases such as atopic dermatitis and asthma. The drug has shown promise in preclinical models, offering a potential new treatment option in the field of allergic conditions. While the company’s stock has seen a significant 9.4% return over the past week, InvestingPro data shows it remains undervalued compared to its Fair Value.

Nurix’s collaboration with Sanofi leverages its proprietary DEL-AI drug discovery platform, which combines artificial intelligence with small molecule drug discovery to target protein degradation. The platform has already produced preclinical stage degraders of IRAK4 and STAT6, among others. The agreement provides Sanofi with the option to license drug candidates, while Nurix retains the option to co-develop and co-promote up to two products in the U.S. post-clinical proof of concept.

The 2019 agreement included an initial $55 million upfront payment from Sanofi, with an additional $22 million following a year later to expand the collaboration. Nurix could receive up to $465 million in development, regulatory, and commercial milestones, as well as royalties on future sales for each licensed program.

Nurix’s approach to drug discovery, which focuses on targeted protein degradation, aims to create treatments that offer the efficacy and safety of antibody therapies but with the convenience of oral dosing. Their pipeline includes clinical and preclinical stage drugs targeting various diseases, including cancer and inflammatory conditions.

This announcement signifies the second license extension by Sanofi of a Nurix autoimmune disease program in the last 90 days, underscoring the potential of Nurix’s drug discovery platform.

The information is based on a press release statement from Nurix Therapeutics, Inc.

In other recent news, Nurix Therapeutics has reported promising advancements in its cancer drug research, revealing preclinical data for several drug candidates at the American Association for Cancer Research 2025 Annual Meeting. These include bexobrutideg, which is currently in a Phase 1a/b clinical trial for B cell malignancies, and NRX-0305, effective against BRAF-mutant cancers. Additionally, the company has received FDA approval to begin Phase 1 trials for its IRAK4 degrader, GS-6791/NX-0479, in collaboration with Gilead Sciences, marking a significant milestone with a $5 million payment. In terms of analyst activity, UBS has adjusted its price target for Nurix to $30, down from $35, while maintaining a Buy rating, citing increased operating expenses due to pivotal trials. Stifel has also revised its target to $35 from $36, maintaining a Buy rating, and expressing optimism about Nurix’s lead asset, bexobrutideg, in the CLL market. Additionally, Nurix’s recent Annual Meeting saw the election of three Class II directors and the ratification of PricewaterhouseCoopers LLP as the independent accounting firm. These developments reflect ongoing strategic and operational progress for Nurix in its pursuit of innovative treatments.

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