Sanofi to Acquire Nurix Therapeutics for $2.4 Billion

Ticker: NRIX · Form: 8-K · Filed: Dec 10, 2024 · CIK: 1549595

Sentiment: bullish

Topics: acquisition, merger, biotech

Related Tickers: SNY

TL;DR

Sanofi buying Nurix for $2.4B, deal expected to close H1 2025.

AI Summary

Nurix Therapeutics, Inc. announced on December 9, 2024, that it has entered into a definitive agreement to be acquired by Sanofi for approximately $2.4 billion. The transaction is expected to close in the first half of 2025, 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 drug candidates, potentially bringing new treatments to patients faster.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, including regulatory approvals, which could delay or prevent the deal from closing.

Key Numbers

Key Players & Entities

FAQ

What is the total value of the acquisition agreement?

The definitive agreement is for approximately $2.4 billion.

Who is acquiring Nurix Therapeutics?

Sanofi is acquiring Nurix Therapeutics.

When was the acquisition announced?

The acquisition was announced on December 9, 2024.

When is the acquisition expected to close?

The transaction is expected to close in the first half of 2025.

What are the conditions for the acquisition to close?

The transaction is subject to customary closing conditions, including regulatory approvals.

Filing Stats: 1,143 words · 5 min read · ~4 pages · Grade level 10.1 · Accepted 2024-12-10 06:54:30

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On December 9, 2024, Nurix Therapeutics, Inc. (the "Company") issued a press release announcing the presentation at the 66th American Society of Hematology Annual Meeting and Exposition (the "ASH Annual Meeting") of new clinical data from the Company's novel Bruton's tyrosine kinase (BTK) degrader program NX-5948 and new preclinical data for NX-5948 and the Company's BTK and IKZF1/3 degrader NX-2127. As previously announced, the Company will host a webcast at 8:15 p.m. Pacific Time (11:15 p.m. Eastern Time) on December 9, 2024, to review the data presented at the ASH Annual Meeting and provide a corporate update. A copy of the press release and the presentation materials for the webcast, which includes the data presented at the ASH Annual Meeting, 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 December 9, 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 NX-5948 Phase 1a/1b dose escalation and expansion cohorts (n=125), including those with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) and those with non-Hodgin's lymphoma. Patients were treated with NX-5948 at starting doses ranging from 50 mg to 600 mg once daily by oral administration, and intra-patient dose escalation was permitted per the clinical trial protocol. NX-5948 was well tolerated across all doses evaluated, and safety findings in the CLL/SLL cohort were consistent with the overall population as well as previous safety analyses. Among the CLL/SLL patients, the most common treatment emergent adverse events were purpura/contusion (36.7%, all grade 1 or 2), fatigue (26.7%, all grade 1 or 2), petechiae (26.7%, all grade 1 or 2), neutropenia (23.3%, 18.3% grade 3 or higher), and rash (23.3%, 1.7% grade 3 or higher). Importantly, across the entire population, there was only one case of grade 1 atrial fibrillation in a patient with pre-existing atrial fibrillation. As of the October 10, 2024 data cut, sixty (60) patients with relapsed or refractory CLL/SLL were enrolled in the NX-5948 Phase 1a/1b clinical trial. This cohort of CLL/SLL patients was a heavily pretreated population that had received a median of four prior lines of therapy (range = 1-12) including prior covalent BTK inhibitors (98.3%), prior BCL2 inhibitors (83.3%), and prior non-covalent BTK inhibitors (28.3%). At baseline, a large number of patients had mutations associated with BTK inhibitor resistance, including mutations in BTK (38.6%) and PLC2G (12.3%). Poor prognostic features were common, including TP53 mutations (40.4%), and five patients (8.3%) had central nervous system (CNS) involvement. Among the efficacy evaluable patients with CLL/SLL (n=4

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 December 9, 2024 99.2 Nurix Therapeutics, Inc. presentation materials dated December 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

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: December 10, 2024 By: /s/ Christine Ring Christine Ring, Ph.D., J.D. Chief Legal Officer 4

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