Roche announces an exclusive multi-billion dollar deal to develop a blood cancer drug.
Roche has entered into an exclusive license and collaboration agreement with the US biotech company Nurix Therapeutics to develop the blood cancer drug Bexobrutideg. The deal is worth up to $2.3 billion, the Swiss pharmaceutical company said.
Roche will pay Nurix an upfront payment of $700 million. 40 percent of the further development costs will be borne by Nurix and 60 percent by Roche.
Profits and losses from marketing in the US will be shared equally, according to the company.
The drug, which will be used to treat various blood cancers such as chronic lymphocytic leukemia, is an experimental tyrosine kinase degrader developed by Nurix that eliminates disease-causing proteins.
According to the pharmaceutical company, the associated phase 3 studies are scheduled to begin in the summer.
DJG/DJN/rio/kla
By Nina Kienle
DOW JONES
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