BTK Degrader Innovation

Roche and Nurix Unveil $700M Deal for Brain-Penetrant BTK Degrader

Roche and Nurix Therapeutics have announced a global licensing and collaboration to co-develop and co-commercialize bexobrutideg (NX-5948), an oral BTK degrader, in the United States while Roche commercializes outside the U.S., with total deal value potentially reaching $2.3 billion. Nurix will receive a $700 million upfront payment and additional development, regulatory, and sales milestones, while development costs are split 40% for Nurix and 60% for Roche. The companies plan to share U.S. commercialization profits and losses equally, and Nurix is expected to earn tiered royalties in the high-teens to low-teens range on ex-U.S. sales. Roche frames bexobrutideg’s differentiated mechanism—degrading the BTK protein rather than only inhibiting its kinase activity—as a potential way to overcome resistance seen with existing BTK inhibitor therapies. The collaboration targets expansion beyond B-cell malignancies into immunology and neurology, including plans for a Phase 3 trial in second-line CLL beginning in summer 2026 and exploration of combination regimens. The agreement is expected to close in the third quarter of 2026, pending antitrust review.

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