Reuters: ZURICH, June 8 - Swiss pharmaceutical giant Roche (ROPC.S), opens new tab has entered an exclusive licensing and collaboration agreement with Nurix Therapeutics (NRIX.O), opens new tab of up ‌to $2.3 billion, the company said on Monday.

The deal focuses on blood cancer drug bexobrutideg, which degrades targeted proteins and is planned to enter a phase III ⁠clinical trial initiation for chronic lymphocytic leukaemia (CLL) in the summer.

Nurix will receive $700 million upfront, with possible payouts for development, regulatory and sales milestones.

"We believe bexobrutideg could represent a major leap forward in the fight against complex blood cancers and other diseases,"

Levi Garraway, ‌Roche ⁠chief medical officer and head of global product development said

The deal is expected to close in the third quarter of 2026

Development costs for ⁠the drug will be covered 60% by Roche and 40% by Nurix

The companies will co-commercialise the drug ⁠in the United States, where they will split the profits and losses equally, ⁠while Roche will commercialise outside of the U.S., paying Nurix royalties