PFE · News · 20260930N

Licensing / Collaboration Deals

PFIZER INC · 2026-09-30 · Importance 34 · Surprise 42 · In source text

Nurix Therapeutics announced a $7 million research milestone payment from Pfizer under their strategic collaboration to discover and develop degrader antibody conjugates (DACs). The payment brings Nurix’s cumulative receipts under the agreement, which began in September 2023, to $82 million. The collaboration provides for up to $3.4 billion in potential milestone payments plus tiered royalties, although these amounts remain contingent on future development and commercial milestones.

Key facts

The collaboration could lead to up to $3.4 billion in potential milestone payments and tiered royalties for Nurix. source
Total payments received under the agreement to date are $82 million. source
The collaboration between Nurix and Pfizer began in September 2023. source

Impact estimates

metric	direction	stage	expected	basis
liability	negative	contingent	-0.1%	The collaboration could lead to up to $3.4 billion in potential milestone payments and tiered royalties for Nurix.