Nurix Therapeutics, a Celgene-backed cancer treatment developer based on UC Berkeley and San Francisco research, priced shares above its range to raise $209m.
Nurix Therapeutics, a US-based oncology therapy developer based on research at University of California (UC), Berkeley and UC San Francisco, priced its shares at $19 on Thursday and raised $209m when it went public on Friday.
The company issued 11 million shares on the Nasdaq Global Market and is trading under the ticker symbol NRIX. Nurix had initially planned to sell 8.8 million shares priced at $16 to $18.
Founded in 2009 as Kura Therapeutics, Nurix is working on small molecule drugs aimed at cancer and immune disorders.
The company commercialises research by co-founders John Kuriyan and Michael Rapé from UC Berkeley, and Arthur Weiss, a professor at UC San Francisco.
A total of $43m to $46m of proceeds have been allocated to move NX-2127 – which targets cancers including leukaemia and non-Hodgkin lymphoma – through a planned phase 1b trial.
Another $28m to…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
