Swiss drugmaker Roche has agreed to an exclusive licensing and collaboration arrangement with Nurix Therapeutics for bexobrutideg, a therapy designed to degrade specific proteins implicated in blood cancers, the companies said Monday. The deal carries a total potential value of up to $2.3 billion.
The program at the center of the agreement, bexobrutideg, is planned to enter a phase III clinical trial for chronic lymphocytic leukaemia (CLL) in the summer. Under the terms announced, Nurix will receive $700 million as an upfront payment, with additional sums contingent on reaching development, regulatory and sales milestones.
"We believe bexobrutideg could represent a major leap forward in the fight against complex blood cancers and other diseases," said Levi Garraway, Roche chief medical officer and head of global product development.
The companies outlined financial and operational responsibilities tied to the collaboration. Roche will fund 60% of the drug’s development expenses while Nurix will be responsible for the remaining 40%.
Commercialization plans differ by geography. In the United States the two firms will share marketing responsibilities and will split profits and losses equally. Outside the U.S., Roche will lead commercialization and will pay Nurix royalties on sales generated in those markets.
The transaction is anticipated to close in the third quarter of 2026, subject to customary closing conditions.
This agreement establishes a multi-faceted partnership in which upfront capital, milestone payments, cost-sharing and geographically distinct commercial roles are all detailed in advance. The arrangement links near-term clinical activity - the scheduled phase III start for CLL - with a broader commercial framework that separates U.S. and international responsibilities.
Additional contractual specifics and future milestone triggers were not disclosed in the announcement. Likewise, any future regulatory outcomes, phase III results, or market uptake that could affect milestone payments or royalties will depend on subsequent developments.