Roche, Nurix Ink $2.3B BTK Degrader Collaboration with $700M Upfront
NRIX•Roche and Nurix launched a $2.3 billion collaboration to co-develop and co-commercialize the BTK degrader bexobrutideg, with Nurix receiving $700 million upfront and Roche covering 60% of development costs. Profit sharing will be 50/50 in the U.S., while Roche leads global sales and pays Nurix low- to high-teens royalties.
1. Deal Structure
Roche and Nurix entered an exclusive licensing collaboration valued at up to $2.3 billion covering bexobrutideg, with Nurix receiving $700 million upfront and eligible for development, regulatory, and sales milestone payments. The agreement is slated to close in the third quarter of 2026, with Roche funding 60% of development costs and Nurix covering the remaining 40%.
2. Clinical Development Plan
Bexobrutideg is an oral BTK degrader that recruits the body’s protein-destruction machinery to eliminate Bruton's tyrosine kinase, distinguishing it from conventional inhibitors. Ongoing Phase 2 and Phase 3 trials focus on chronic lymphocytic leukemia, with Phase 3 initiation scheduled for summer 2026, alongside planned Phase 2 studies in multiple sclerosis and chronic spontaneous urticaria.
3. Commercial Terms and Financial Impact
Within the U.S., Roche and Nurix will split profits and losses evenly, while Roche leads ex-U.S. commercialization and compensates Nurix with royalties in the low- to high-teens percent range. The collaboration broadens Roche’s hematology franchise into immunology and neurology and accelerates Nurix’s transformation into a fully integrated biotechnology company.
