Brief: Nurix Therapeutics Inc - Entered Into A Multi-Year, Multi-Target Strategic Collaboration Agreement With Seagen Inc
07/09/2023 12:52
Sept 7 (Reuters) - Nurix Therapeutics Inc NRIX.O :
* NURIX THERAPEUTICS INC - ENTERED INTO A MULTI-YEAR,
MULTI-TARGET
STRATEGIC COLLABORATION AGREEMENT WITH SEAGEN INC
* NURIX THERAPEUTICS - TO RECEIVE $60 MILLION UPFRONT
PAYMENT, IN
ADDITION TO POTENTIAL FOR ABOUT $3.4 BILLION IN MILESTONE
PAYMENTS PLUS FUTURE ROYALTIES
* NURIX THERAPEUTICS INC - RETAINS AN OPTION FOR U.S. PROFIT
SHARING AND CO-PROMOTION ON TWO PRODUCTS ARISING FROM
COLLABORATION
* NURIX THERAPEUTICS INC - SEVERAL DAC DRUGS MAY BE
DEVELOPED AND
COMMERCIALIZED WITHIN THIS COLLABORATION
* NURIX THERAPEUTICS - EXPECTS EXISTING CASH, CASH
EQUIVALENTS AND
MARKETABLE SECURITIES, WILL BE SUFFICIENT TO FUND OPERATING
ACTIVITIES INTO Q2 2025
Source text for Eikon: ID:nGNX7v7FqQ
Further company coverage: NRIX.O
(Reporting by ArsheeyaSingh Bajwa)
((ArsheeyaSingh.Bajwa@thomsonreuters.com;))