09:23 AM EDT, 04/02/2024 (MT Newswires) -- Nurix Therapeutics ( NRIX ) said Tuesday that Gilead Sciences ( GILD ) has extended their research collaboration for an additional two years to develop more clinical candidates.

Under the terms of the partnership, first signed in 2019, Nurix employs its drug discovery platform to find agents targeting drug degradation via E3 ligases, Nurix said. Gilead can license resulting drugs, while Nurix retains options for US co-development, it added.

The collaboration resulted in the first development candidate, GS-6791, or NX-0479, to potentially treat rheumatoid arthritis and other inflammatory diseases, which Gilead licensed in March 2023, Nurix said.

The company said it will receive a $15 million extension fee and is still eligible for potential milestone payments and royalties of up to $73.5 million and $1.7 billion, respectively. Nurix also said it retains co-development options for two programs in the US.