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.
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During Q1, biopharmas brought in an aggregate $13.8bn in financing. M&A value reached $6.9bn, the majority from Gilead Sciences $4.9bn purchase of immuno-oncology firm Forty Seven. Alliances fetched $35bn in potential deal value, dominated by many Big Pharma tie-ups led by a $4bn discovery and development collaboration between AstraZeneca and Silence Therapeutics for siRNA therapeutics.
Private Company Edition: Kymera said it will take up to three programs into the clinic by next year. Also, three new life science funds recently launched, including a Gates Foundation-backed accelerator for COVID-19 treatments, and Cell Medica reemerges as Kuur with new funding for CAR-NKT therapies.
Gilead is elbowing its way into the protein degradation field, seeking to build out a pipeline of oncology drugs in a $45m deal with Nurix. The pool is becoming crowded though, as many other big firms have latched onto this burgeoning field of R&D.