Roche bets $700M upfront on Nurix’s late‑phase BTK degrader to tee up Lilly showdown

Roche is paying Nurix Therapeutics $700 million upfront for rights to bexobrutideg and committing up to $2.3 billion in total potential development, regulatory, and sales milestones.

Roche will pay 60% of global development costs and Nurix 40%; the companies will co-develop and co-commercialize bexobrutideg in the U.S., splitting profits and losses 50/50.

Outside the U.S., Roche will commercialize the BTK degrader and pay Nurix tiered royalties in the low- to high-teens on ex‑U.S. sales.

Bexobrutideg is an investigational oral BTK degrader entering late‑phase testing, with a key Phase 3 trial in chronic lymphocytic leukemia set to initiate this summer and ultimately positioned in a head‑to‑head comparison with Eli Lilly’s Jaypirca.

The deal spans B‑cell malignancies, immunology (chronic spontaneous urticaria), and neurology (multiple sclerosis), and the transaction is expected to close in Q3 2026 pending customary conditions, including antitrust clearance.