Nurix Therapeutics, Inc.

SAN FRANCISCO, June 13, 2025 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases, today announced that on June 10, 2025, the company granted inducement awards to seventeen new employees. The grants were made pursuant to Nurix’s 2024 Equity Inducement Plan as an inducement material to the employees’ acceptance of employment with Nurix and were approved by the Compensation Committee of Nurix’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The company granted stock options to purchase an aggregate of 97,400 shares of Nurix common stock and restricted stock unit awards (RSUs) representing an aggregate of 66,750 shares of Nurix common stock. One fourth of the total number of shares underlying the stock options will vest on the one-year anniversary of the employee’s date of hire and one forty-eighth of the total number of shares underlying the stock options will vest each month thereafter until the stock option is fully vested on the fourth anniversary of the employee’s date of hire, subject to the employee’s continued service with Nurix on each such vesting date. The stock options have a term of ten years and an exercise price of $12.79 per share, which is equal to the closing price of Nurix’s common stock on the grant date as reported by the Nasdaq Global Market. One fourth of the total number of shares subject to the RSUs will vest on the one-year anniversary of the RSU vesting start date, which is July 30, 2025, subject to the employee’s continued service with Nurix on the vesting date. Thereafter, one sixteenth of the total number of shares subject to the RSUs shall vest quarterly, until the RSU award is fully vested on the fourth anniversary of the vesting start date, subject to the employee’s continued service with Nurix on each such vesting date. About Nurix Therapeutics, Inc. Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases. Nurix’s wholly owned, clinical stage pipeline includes degraders of Bruton’s tyrosine kinase (BTK), a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix also is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Nurix’s partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4 and STAT6, as well as multiple additional programs under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by a fully AI-integrated discovery engine capable of tackling any protein class, and coupled with unparalleled ligase expertise, Nurix’s dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine’s next chapter with a new script to outmatch disease. Nurix is headquartered in San Francisco, California. For additional information visit http://www.nurixtx.com. Contacts: Investors Kris Fortner Nurix Therapeutics, Inc. ir@nurixtx.com Elizabeth Wolffe, Ph.D. Wheelhouse Life Science Advisors lwolffe@wheelhouselsa.com Media Aljanae Reynolds Wheelhouse Life Science Advisors areynolds@wheelhouselsa.com Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

iStock, Olena Koliesnik The candidate is being positioned as a potential oral competitor to Sanofi and Regeneron’s blockbuster Dupixent in allergy and inflammation indications. Kymera Therapeutics reported Phase I results for its experimental protein degrader KT-621 on Monday, showing the ability to lower the target protein in healthy volunteers. In a note to investors on Monday afternoon, analysts at Truist Securities said they “view KT-621 as a potential oral version of Dupixent, with ~$14 billion annual sales across multiple indications,” positioning the new drug as an oral version of Sanofi and Regeneron’s injectable blockbuster for allergic diseases. Dupixent recorded 2024 sales of $13.62 billion. “Data exceeded our base case expectations. we continue to believe broad potential for the drug,” the analysts said. “We expect the drug to work across tissues and indicates potential for broad applicability across indications.” The company’s share price jumped 45% on Monday after the data were announced. The molecule is in a Phase Ib trial for moderate to severe eczema and will likely be trialed for atopic dermatitis and asthma later this year. KT-621 works by targeting and degrading a protein called STAT6, a transcription factor implicated in inflammation and allergy disorders. Kymera’s data appear to indicate that this strategy could pay off. KT-621 showed more than 90% STAT6 degradation in blood when delivered at doses above 1.5 mg, and it managed complete STAT6 degradation in blood and skin with doses over 50 mg. The drug was well tolerated, the company said, with a “boring” safety profile. “This impressive dataset, the first reported clinical data for a STAT6-targeted medicine, is a powerful demonstration of what we believe is an impeccable translation into humans,” Nello Mainolfi, Kymera’s founder and president, said in a statement. Other companies are also pursuing the protein degradation approach. On Monday, Sanofi paid $15 million to exclusively license Nurix’s STAT6 degrader candidate NX-3911, a product of a collaboration between the two companies that dates back to 2019.

Various buy-ins from Sanofi mean Nurix has already done well out the ongoing partnership—pocketing $127 million in proceeds to date.\n Sanofi’s collaboration with Nurix is continuing to bear fruit, with the French pharma securing its second protein degrader program from the biotech in a matter of months.This time, Sanofi is making a $15 million upfront payment for the rights to NX-3911, a signal transducer and activator of transcription 6 (STAT6) degrader that could potentially treat inflammation in allergic conditions. Over time, Nurix could be eligible for up to $465 million in development, regulatory and commercial milestones as well as potential future royalties. The biotech will also retain an option to co-develop and co-promote the drug in the U.S.“Using our DEL-AI platform, we identified novel DEL-derived chemical matter from which we developed, together with Sanofi, a potential best-in-class STAT6 degrader, NX-3911, which achieves rapid and complete STAT6 degradation,” Nurix Chief Scientific Officer Gwenn Hansen, Ph.D., explained in a June 2 release.“NX-3911 is a potent, selective, orally administered degrader of STAT6 that shows robust efficacy in multiple preclinical models of atopic dermatitis and asthma, demonstrating anti-inflammatory efficacy in animal models equivalent to a STAT6 gene knockout,” Hansen added.Sanofi paid $55 million to partner with the biotech in 2019 and handed over a further $22 million to expand the collaboration one year later. Sanofi extended the deal again last year to cover another STAT6 degrader, and, two months ago, the French pharma paid out $15 million for the rights to a once-undruggable transcription factor.The various buy-ins from Sanofi mean Nurix has already done well out of the partnership—pocketing $127 million in proceeds to date. Nurix has built an internal pipeline on a platform for identifying agents that use E3 ligases to drive the degradation of targets. Like other developers of protein degraders, Nurix pitches its technology as a way to go after targets that have been considered undruggable, for example, because they lack viable binding sites.“This is the second license extension of a Nurix autoimmune disease program by Sanofi in the last 90 days, highlighting the power of our proprietary DEL-AI drug discovery platform to fuel the discovery of novel medicines to a range of therapeutically important targets like STAT6,” Nurix’s CEO Arthur Sands, M.D., Ph.D., said in this morning’s release.“Notably, our STAT6 program also includes additional differentiated discovery-stage assets, which could represent an additional product opportunity within our Sanofi collaboration,” Sands added.Partnerships have helped Nurix build a cash cushion that stood at more than $600 million at the end of November 2024. The biotech is using the money to advance a pipeline led by NX-5948, a BTK degrader that is on course to enter trials this year to support approval in chronic lymphocytic leukemia.STAT6 is a key nodal transcription factor that selectively mediates downstream IL-4 and IL-13 signaling, which drives type 2 inflammatory diseases like asthma, atopic dermatitis and allergies. Sanofi’s interest in the target isn’t limited to Nurix. Back in 2023, the Paris-based pharma paid $125 million upfront to Recludix Pharma in a pact centered around a preclinical STAT6 inhibitor.