Sidley represented Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical stage biopharmaceutical company developing targeted protein modulation drugs designed to treat patients with hematologic malignancies and solid tumors, in its multi-year, multi-target strategic collaboration agreement with Seagen Inc. (Nasdaq: SGEN) to advance a new class of medicines called Degrader-Antibody Conjugates (DACs) for use in cancer treatment.
This strategic collaboration will focus on an innovative approach to combining two powerful technologies to target cancer — antibody-drug conjugation (ADC) and targeted protein degradation (TPD) — with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity.
Under the terms of the agreement, Nurix will receive:
- An upfront payment of US$60 million; and
- The potential to receive up to approximately US$3.4 billion in research, development, regulatory, and commercial milestone payments across multiple programs.
In addition, Nurix will be eligible for mid-single to low double-digit tiered royalties on future sales, and Nurix retains an option for U.S. profit sharing and co-promotion on two products arising from the collaboration.
The Sidley team was led by Tom Duley and Stephen Abreu (Technology and Life Sciences Transactions), and included Longbo Wang and Cassidy A. Pomeroy-Carter (Technology and Life Sciences Transactions); Maria Isabel Manley, Emily Marden, and Dr. Chris Boyle (Food, Drug and Medical Device); and Gaëlle E. Tribié (Global Arbitration, Trade and Advocacy).
For additional information, please refer to the press release.
