Roche is paying Nurix Therapeutics $700 million upfront to co-develop and co-commercialize bexobrutideg, a BTK degrader aimed at B-cell malignancies, with total deal value up to $2.3 billion. The companies said the confirmatory phase 3 program is designed to compare bexobrutideg against Eli Lilly’s Jaypirca in CLL and SLL patients previously treated with a covalent BTK inhibitor. The collaboration splits development spending (Roche covering 60%) and U.S. profits equally, while Nurix will receive low- to high-teens royalties outside the U.S. Roche will commercialize bexobrutideg internationally. Nurix reported median progression-free survival of 22.1 months in an earlier study versus 14 months in Lilly’s phase 3 Jaypirca trial, though cross-trial comparisons have caveats. Nurix disclosed it dosed the first patient in a potentially pivotal phase 2 trial in October; participants had prior exposure to covalent and non-covalent BTK inhibitors plus a BCL-2 inhibitor such as AbbVie’s Venclexta. The deal also positions Roche to defend market share as multiple next-gen degraders approach late-stage readouts, including BeOne Medicines’ efforts.