Nurix raises $120M in week’s second major protein degradation financing

Nurix’s $120 million funding round is the second fund-raising for a targeted protein degradation company in excess of $100 million this week. Along with Kymera’s $102 million round, Nurix’s deal reflects the promise investors see in the emerging modality, even amid the COVID-19 crisis.

Nurix Therapeutics Inc. said it will advance several of its lead preclinical programs into the clinic over the next two years. That includes its lead Btk degrader, which is slated for an IND submission in late 2020. ...