Nurix Therapeutics, a preclinical biotech developing small molecule therapies for cancer, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The company's lead protein degradation candidate, NX-2127, is an orally available BTK degrader for the treatment of relapsed or refractory B-cell malignancies. Its lead E3 ligase inhibitor candidate, NX-1607, is an orally available CBL-B inhibitor for immuno-oncology indications. The company expects to file INDs and initiate Phase 1 trials for both candidates, but does not give an expected timeline. Beyond these portfolios, it also has additional preclinical programs independently and through collaborations with Sanofi and Gilead.
The San Francisco, CA-based company was founded in 2009 and booked $19 million in collaboration revenue for the 12 months ended May 31, 2020. It plans to list on the Nasdaq under the symbol NRIX. Nurix Therapeutics filed confidentially on May 5, 2020. J.P. Morgan, Piper Sandler and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
