Gilead Sciences Exercises Option to Secure Exclusive License for Nurix's IRAK4-Targeting Protein Degrader GS-6791

Intelligent Finance APP learned that Gilead Sciences (GILD.US) announced that, according to the 2019 agreement, Gilead Sciences (GILD.US) has exercised its option to obtain an exclusive license for a research-based protein degrader developed by clinical-stage biotechnology company Nurix Therapeutics (NRIX.US). The candidate drug, named GS-6791, is used to treat inflammatory diseases such as rheumatoid arthritis (RA) and aims to influence the degradation of IRAK4.

It is reported that this drug is the first candidate drug for which Gilead Sciences has exercised its option license as part of its global strategic collaboration with Nurix Therapeutics in 2019. Under this collaboration, Gilead has the option to license candidate drugs targeting up to five different targets. This deal will generate a $20 million option exercise payment for Nurix, plus up to $425 million in milestone payments and tiered royalties on net product sales in the double-digit range.