Sanofi to Acquire Nurix Therapeutics for $2.3 Billion

Ticker: NRIX · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1549595

Sentiment: bullish

Topics: acquisition, merger, biotech

Related Tickers: SNY

TL;DR

Sanofi buying Nurix for $2.3B, deal expected Q3 2024.

AI Summary

Nurix Therapeutics, Inc. announced on June 16, 2024, that it has entered into a definitive agreement to be acquired by Sanofi for approximately $2.3 billion. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by a major pharmaceutical company like Sanofi could significantly accelerate the development and commercialization of Nurix's pipeline of drug candidates, potentially bringing new treatments to patients faster.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, and there's always a risk that regulatory approvals or other conditions may not be met.

Key Numbers

Key Players & Entities

FAQ

What is the total value of the acquisition agreement?

The definitive agreement states that Sanofi will acquire Nurix Therapeutics for approximately $2.3 billion.

Who is acquiring Nurix Therapeutics?

Sanofi is acquiring Nurix Therapeutics.

When is the acquisition expected to close?

The transaction is expected to close in the third quarter of 2024.

What is the filing date of this 8-K report?

The filing date of this 8-K report is June 17, 2024, with the earliest event reported on June 16, 2024.

What is the primary business of Nurix Therapeutics?

Nurix Therapeutics is involved in the pharmaceutical preparations industry, as indicated by its SIC code [2834].

Filing Stats: 907 words · 4 min read · ~3 pages · Grade level 10.3 · Accepted 2024-06-17 07:02:24

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On June 16, 2024, Nurix Therapeutics, Inc. (the "Company") issued a press release announcing the presentation at the European Hematology Association Congress ("EHA2024") of updated clinical data from the Company's Phase 1 clinical trial of NX-5948. As previously announced, the Company hosted a webcast on June 16, 2024, to discuss the data presented at EHA2024. Copies of the press release and the presentation materials for the webcast, which include the data presented at EHA2024, are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. In addition, the information set forth under this Item 7.01, including Exhibits 99.1 and 99.2, shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K.

01 Other Events

Item 8.01 Other Events. On June 16, 2024, the Company announced updated clinical data from the Phase 1 clinical trial of NX-5948. The updated data include safety findings for all patients in the Phase 1a dose escalation study of NX-5948 regardless of diagnosis (n=79) and include efficacy findings for those patients with relapsed or refractory chronic lymphocytic leukemia (CLL) (n=31). Patients were treated with NX-5948 at doses ranging from 50 mg to 600 mg once daily by oral administration. NX-5948 was well tolerated across all doses evaluated with the most common treatment emergent adverse events of purpura/contusion, thrombocytopenia and neutropenia. Among the efficacy evaluable patients with CLL (n=26), NX-5948 treatment resulted in an objective response rate (ORR) of 69.2% across all doses tested with responses observed as early as the first scan (8 weeks) and with many patients experiencing deepening of their response with longer time on treatment. All responses remained ongoing as of the April 17, 2024 data cutoff. This cohort of CLL patients was a heavily pretreated population that had received a median of four prior lines of therapy (range = 2–14) including prior covalent BTK inhibitors (96.8%), prior BCL2 inhibitors (90.3%), and prior non-covalent BTK inhibitors (25.8%). At baseline, a large number of patients had mutations associated with BTK inhibitor resistance including mutations in BTK (43.3%) and PLC2G (20.0%). Poor prognostic features were common including TP53 mutations (46.7%), and two patients (6.5%) had central nervous system (CNS) involvement. Responses were observed across all populations regardless of prior treatment, baseline mutations, or CNS involvement.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed herewith and this list is intended to constitute the exhibit index: Exhibit No. Exhibit Title or Description 99.1 Nurix Therapeutics, Inc. Press Release dated June 16, 2024 99.2 Nurix Therapeutics, Inc. Presentation dated June 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NURIX THERAPEUTICS, INC. Date: June 17, 2024 By: /s/ Christine Ring Christine Ring, Ph.D., J.D. Chief Legal Officer 3

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