This article first appeared on GuruFocus.
Roche Holding AG (RHHBY) has agreed to pay Nurix Therapeutics (NASDAQ:NRIX) as much as $2.3 billion for rights to bexobrutideg, an experimental pill targeting certain blood cancers and potentially other immune-system and neurological diseases. The deal gives Roche access to a BTK degrader, a newer class of medicine designed to eliminate a protein tied to several blood cancers.
Under the agreement, Nurix will receive $700 million upfront, while the two companies will share development costs and split US profits equally. Roche will commercialize the therapy outside the US, giving the Swiss drugmaker another possible growth driver as it looks to strengthen its cancer portfolio beyond aging blockbuster medicines.
The drug could be especially important for patients whose disease stops responding to existing treatments, as the companies said bexobrutideg may help overcome resistance mutations that can emerge during treatment. The transaction is expected to close in the third quarter of 2026, while Roche shares fell as much as 1.4% in Zurich and Nurix shares rose as much as 71% in New York premarket trading.