Roche is paying Nurix Therapeutics $700 million upfront, with up to $2.3 billion in milestones, to secure rights and collaboration on bexobrutideg, a BTK degrader for B-cell malignancies. Roche plans a phase 3 confirmatory study against Eli Lilly’s covalent/non-covalent benchmark Jaypirca in chronic lymphocytic leukemia (CLL) and small lymphocytic leukemia (SLL). The partners outlined a cost-sharing and profit-split structure: Roche will fund 60% of development costs and split U.S. profits equally, while Nurix co-commercializes in the U.S. Roche will handle commercialization outside the U.S. and pay royalties in the low- to high-teens. Nurix previously reported median progression-free survival of 22.1 months in phase 1a, versus 14 months for Jaypirca in Lilly’s phase 3, according to cross-trial comparisons. Roche’s bet highlights the growing commercialization pressure around BTK inhibitors and the competitive pull toward degradation rather than inhibition.