FOSTER CITY (dpa-AFX) - Biopharmaceutical company Nurix Therapeutics, Inc.
(NRIX) announced Tuesday that Gilead Sciences, Inc. (GILD) has elected to extend
the research term of the companies' ongoing collaboration, originally
established in 2019, by an additional two years.

Under the collaboration agreement, Nurix is deploying its proprietary drug
discovery platform to identify novel agents that use E3 ligases to induce
degradation of specified drug targets.

Gilead has an option to license drug candidates resulting from the work, and
Nurix retains co-development and co-detail options on up to two programs in the
United States, subject to certain restrictions.

For those programs that Nurix opts in to co-develop and co-detail, the parties
will split development costs as well as profits and losses 50/50 for the United
States, and Nurix will be eligible to receive royalties on ex-U.S. sales and
reduced milestone payments.

In connection with the extension, Nurix will receive a $15.0 million extension
fee and remains eligible for up to $73.5 million in preclinical milestones and
potential future licensing payments and up to a total of $1.7 billion in
potential future development, regulatory, and sales milestones as well as
royalties on future products.

Upon signing the agreement in 2019, Gilead made an upfront payment of $45.0
million. Through Nurix's fiscal year-end of November 30, 2023, Nurix has
received an additional $70.0 million.



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