San Francisco-based Nurix Therapeutics announced that it has entered into a strategic collaboration agreement with Seagen to advance a new class of medicines called degrader-antibody conjugates (DACs) for use in cancer.
The partnership will focus on an innovative approach to combine 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 safety and efficacy.
“With Seagen, our strategic goal is to advance ADC technology to the next level to provide patients with new DAC drugs that deliver greater anti-tumor efficacy and safety compared to currently available agents,” said Arthur Sands, president and CEO of Nurix.
Seagen's ability to produce next-gen cancer breakthroughs was the impetus for Pfizer's $43 billion acquisition, announced earlier this year.
Now, the Washington-based ADC standout will hand Nurix an upfront payment of $60 million and up to $3.4 billion in milestones for the chance to get in on the ground level of a new class of therapeutics.