Nurix inks deal with Seagen on cancer therapeutics
US clinical-stage biopharma Nurix Therapeutics (Nasdaq: NRIX) saw its shares rise almost 11% to $9.19 yesterday morning, after it announced a multi-year, multi-target strategic collaboration agreement with Seagen (Nasdaq: SEGN) to advance a new class of medicines called degrader-antibody conjugates (DACs) for use in cancer.
The collaboration will focus on an innovative approach to combine two powerful technologies to target cancer - antibody-drug conjugation (ADC) and targeted protein degradation (TPD) - with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity.
Financial and other terms of the accord
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