Nurix says Sanofi has terminated its autoimmune disease drug development project

Reuters, November 3 - Nurix Therapeutics (NRIX.O) said on Tuesday that Sanofi has decided to discontinue development of an experimental therapy for autoimmune and inflammatory diseases, which means that any potential future milestone payments and royalties from the project will no longer be available.

Nurix's share price plunged 38% in after-hours trading.

Details are as follows:

• The US biotechnology company said that Sanofi SASY.PA has informed it that, following the termination of an early-stage clinical trial, it has decided to discontinue development of the oral candidate drug SAR448272

• As a result, Nurix stated that it does not expect to receive any future R&D, regulatory, or commercial milestone payments, nor any royalties related to the therapy

• Sanofi has not immediately responded to a request for comment from Reuters

• Nurix added that, under its collaboration agreement with Sanofi, the company remains eligible to receive milestone payments and royalties from other drug candidates under development

• "Although today’s news is disappointing, Nurix remains well positioned," CEO Arthur Sands (Arthur Sands) said in a statement, referring to the company’s clinical-stage and preclinical pipeline

• Nurix stated that, as of August 31, it held approximately US $1.1 billion in cash, cash equivalents, and marketable securities, and expects these funds will support operations into the second half of 2029

• According to a 2019 collaboration agreement, Nurix used its targeted protein degradation platform to identify drug candidates for Sanofi

• Nurix noted that, in 2025, Sanofi expanded the scope of their cooperation by licensing two projects targeting transcription factors for autoimmune and inflammatory diseases, including the now discontinued candidate

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