In one of biotech's hottest areas and with big partners like Gilead, S.F. company files for $100M IPO - (San Francisco Business Times via NewsPoints Desk)

  • Nurix Therapeutics, which is developing a protein-degrading approach to fight blood cancers and other diseases, filed for a placeholder $100-million initial public offering (IPO), reported the San Francisco Business Times.

  • The company also said in its IPO filing with the US Securities and Exchange Commission that it has three protein-degradation programs targeting parts of SARS-CoV-2, the virus that causes COVID-19.

  • Its lead drugs NX-2127, an oral protein degradation chimeric-targeting molecule aimed at non-Hodgkins lymphoma, and NX-1607, an oral ligase inhibitor, are in preclinical studies.

  • However, the company hinted in its IPO filing that it soon could file investigational new drug applications with the FDA and then start clinical trials.

  • Nurix also has invested $3 million in its own spinout company, called DeCART Therapeutics. That company has licensed three Nurix compounds, including cancer-fighting drug-enhanced CAR-T therapies, the news source said.

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