NurixTherapeutics, Inc. announced the expansion of its global strategic collaboration with Sanofi to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with challenging diseases in multiple therapeutic areas. Sanofi has exercised its option to expand the number of targets in the collaboration agreement from three to a total of five targets. With the expansion, Nurix receives a payment of $22 million, in addition to the previously received upfront payment of $55 million.

Nurix is also eligible to receive up to approximately $2.5 billion in total payments based on the successful completion of certain research, pre-clinical, clinical, regulatory and sales milestones. As part of the multi-year collaboration signed in December 2019, Nurix is using its proprietary drug discovery platform, DELigase™, that integrates its DNA-encoded libraries (DEL) and its portfolio of E3 ligases to create small molecules designed to induce degradation of specified drug targets. Sanofi will have exclusive rights and be responsible for clinical development and commercialization of drug candidates resulting from the work while Nurix will retain the option to co-develop and co-promote up to two products in the United States under certain conditions.

Nurix will be eligible for royalties on annual net sales of any commercial products that may result from the collaboration, excluding sales in the United States of any products for which Nurix exercises its option to co-develop and co-promote, for which Nurix and Sanofi share U.S. profits and losses evenly, and Nurix will be eligible to receive royalties on ex-U.S. net sales on all optioned products. The collaboration excludes Nurix's wholly owned pipeline for which Nurix retains all rights.