Roche to Pay Nurix as Much as $2.3 Billion in Cancer Deal (2)

Roche Holding AG agreed to pay Nurix Therapeutics Inc. as much as $2.3 billion for rights to an experimental blood-cancer drug, betting it can help patients whose disease stops responding to existing treatments.

Nurix will receive $700 million upfront for bexobrutideg, a pill being developed for certain blood cancers and potentially other immune-system and neurological diseases, Roche said Monday. The firms will share development costs and split US profits equally, and Roche will commercialize the therapy outside the US.

Roche shares slipped 0.9% in Zurich. The stock was up about 21% over the past 12 months through Friday’s close. Nurix ...