Nurix’s $120m Venture Round Will Bring Two Protein-Modulating Therapies To Clinic

Company’s technology harnesses E3 ligases to either degrade dysregulated proteins or inhibit a specific ligase to increase substrate protein levels for therapeutic benefit.

Funding Economy FInancial Collection Fund Concept
A $120m financing should enable Nurix to get two programs into clinical development

Partnered with Gilead Sciences Inc. and Sanofi, privately held Nurix Inc. has raised a $120m venture financing that will enable it to advance two wholly owned small molecule candidate that fight cancer via targeted protein modulation. The company said on 12 March the funding will take it well into 2022 and enable it to see clinical data from the two programs, both currently in preclinical development.

The San Francisco-based firm is not calling the fundraising a series C round, but has raised about $48m previously in equity financing, including a $6.2m seed funding backed by Third Rock Ventures and The Column Group in 2012. (Also see "Third Rock Launches Nurix With Ambitions Of Next-Gen Velcade" - Pink Sheet, 23 May, 2014.) More recently, Nurix netted $25

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Financing

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By 

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By 

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By 

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By 

The sector is continuing to show resilience despite financial and market challenges.

More from Business

Building Up US Biopharma Manufacturing Will Require Investments In Talent

 

Workforce development will be essential to meeting president Trump’s goal to return biopharma manufacturing to the US.

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By 

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Pharma Left Hanging After US/UK Trade Pact

 
• By 

An ‘historic economic prosperity deal’ does not include the sector.