NRIX Stock Up as SNY In-Licenses Rights to Autoimmune Diseases Program

Core Viewpoint - Nurix Therapeutics (NRIX) shares increased by 8.7% following the announcement of an exclusive licensing agreement with Sanofi (SNY) for a new program targeting a previously untreatable transcription factor related to autoimmune diseases [1] Group 1: Collaboration Details - The collaboration between Nurix and Sanofi, established in 2019, focuses on developing targeted protein degradation therapies using Nurix's DEL-AI discovery platform [2][3] - Sanofi expanded the number of targets from three to five in 2021, indicating a strengthening partnership [2] Group 2: Financial Aspects - Nurix received a $15 million license extension fee from Sanofi and is eligible for up to $465 million in potential milestone payments per licensed program, along with royalties on future sales [9] - Under the revised agreement, Nurix can co-develop and co-promote up to two products in the U.S. after demonstrating clinical proof of concept, sharing profits and losses equally with Sanofi for these programs [7][8] Group 3: Market Performance - Year to date, NRIX stock has decreased by 39.6%, contrasting with the industry’s growth of 1.2% [3] - The stock is experiencing further gains in pre-market trading following the announcement [1]