Nurix Therapeutics (NRIX) Wells Fargo 21st Annual Healthcare Conference summary

Business overview and partnerships

• Focus on targeted protein degradation with lead BTK degrader in pivotal studies for CLL, and advancing into CSU and MS indications.

• Strategic partnerships with Roche (bexdeg), Gilead, Sanofi, and Pfizer, with lead programs including STAT6 and IRAK4 degraders.

• Roche deal includes $700M upfront, $2.3B total milestones, 40/60 cost sharing, and 50/50 US profit share.

• Collaboration with Roche enables expansion into broader heme, I&I, and neuro indications.

• Pipeline includes six clinical-stage drugs since 2020, with more preclinical assets in oncology and immunology.

Clinical development and data highlights

• BTK degrader showed 83% response rate and 22.1 month median PFS in refractory CLL; phase III head-to-head vs. pirtobrutinib planned.

• Phase Ib/II combination study with venetoclax aims for deeper, durable responses and fixed-duration therapies.

• High response rates (>90%) observed in BTK inhibitor-naive CLL cohorts; ongoing focus on durability and safety.

• Healthy volunteer SAD/MAD study with new tablet formulation supports CSU and MS programs, with phase I data expected this year.

• Updates on CLL and NHL cohorts to be presented at ASH (December) and EHA (June).

Differentiation and competitive landscape

• BTK degraders offer catalytic protein removal, addressing both wild-type and mutant forms, with potential for once-daily dosing.

• Safety and selectivity seen as key differentiators versus competitors like B1; ongoing studies to confirm advantages.

• In I&I, BTK degraders may avoid liver toxicity seen with inhibitors and provide deeper suppression of B cell activity.

• Remibrutinib sets efficacy bar in CSU; bexdeg aims for improved coverage and efficacy, especially for patients not controlled by current therapies.

• In MS, focus is on slowing disability progression, with microglia targeting as a key mechanism.