Latest news with #Nurix
Yahoo
16-05-2025
- Business
- Yahoo
Nurix Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN FRANCISCO, May 16, 2025 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases, today announced that on May 13, 2025, the company granted inducement awards to thirteen new employees. The grants were made pursuant to Nurix's 2024 Equity Inducement Plan as an inducement material to the employees' acceptance of employment with Nurix and were approved by the Compensation Committee of Nurix's Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The company granted stock options to purchase an aggregate of 87,950 shares of Nurix common stock and restricted stock unit awards (RSUs) representing an aggregate of 60,050 shares of Nurix common stock. One fourth of the total number of shares underlying the stock options will vest on the one-year anniversary of the employee's date of hire and one forty-eighth of the total number of shares underlying the stock options will vest each month thereafter until the stock option is fully vested on the fourth anniversary of the employee's date of hire, subject to the employee's continued service with Nurix on each such vesting date. The stock options have a term of ten years and an exercise price of $9.73 per share, which is equal to the closing price of Nurix's common stock on the grant date as reported by the Nasdaq Global Market. One fourth of the total number of shares subject to the RSUs will vest on the one-year anniversary of the RSU vesting start date, which is April 30, 2025, subject to the employee's continued service with Nurix on the vesting date. Thereafter, one sixteenth of the total number of shares subject to the RSUs shall vest quarterly, until the RSU award is fully vested on the fourth anniversary of the vesting start date, subject to the employee's continued service with Nurix on each such vesting date. About Nurix Therapeutics, Inc. Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases. Nurix's wholly owned, clinical stage pipeline includes degraders of Bruton's tyrosine kinase (BTK), a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix also is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Nurix's partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4 and STAT6, as well as multiple additional programs under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by a fully AI-integrated discovery engine capable of tackling any protein class, and coupled with unparalleled ligase expertise, Nurix's dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine's next chapter with a new script to outmatch disease. Nurix is headquartered in San Francisco, California. For additional information visit Contacts: InvestorsJason Kantor, Therapeutics, Elizabeth Wolffe, Life Science Advisorslwolffe@ MediaAljanae ReynoldsWheelhouse Life Science Advisorsareynolds@ in to access your portfolio
Time of India
09-05-2025
- Business
- Time of India
Ex-Flipkart CTO Peeyush Ranjan joins Mukesh Bansal's Meraki Labs as partner
Peeyush Ranjan , former Flipkart CTO and a Google veteran, has joined Mukesh Bansal 's startup incubator Meraki Labs as a partner. #Operation Sindoor Live Updates| From Sindoor to showdown? Track Indo-Pak conflict as it unfolds India hits Lahore's Air Defence Radars in proportionate response Pakistan tried to hit military targets in these 15 Indian cities, New Delhi thwarts strikes Based in San Francisco, he will help expand Meraki's presence in Silicon Valley as it sharpens its focus on artificial intelligence (AI) and work closely with entrepreneurs at the incubator to shape their tech and product strategies, Ranjan told ET in an interaction. 'Meraki's focus is to be a moonshot factory for amazing projects, and in today's day, AI is a key component of that,' he said. 'A big part of my role will be to guide the AI vision for Meraki… What kind of companies we should start, what are the problems that we will be great at solving?... Not just applying AI for the sake of it.' Ranjan said his presence in Silicon Valley—while Bansal is based out of Bengaluru—gives Meraki an opportunity to 'connect with global networks and talent.' 'With his deep product mindset and engineering leadership, he (Ranjan) will play a key role in building new companies, leading our AI vision, and helping Meraki establish a strong presence in Silicon Valley," Bansal said. Live Events 'Peeyush has built many large-scale products from scratch used by hundreds of millions of people around the world and has a very strong pulse on emerging tech trends,' he added. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories AI focus As a partner, Ranjan will participate in ongoing investments for Meraki Labs' portfolio companies. He will also join the board of Nurix AI , Bansal's own AI startup incubated at Meraki Labs. Nurix, which raised $27.5 million in seed funding from Accel and General Catalyst in September last year, builds custom AI agents for enterprise services like sales and customer support in initial use cases. Ranjan said he would help Nurix design a technical architecture as well as make key leadership hires. 'Nurix itself is going after a very clear problem – and it is looking to solve for these tasks which are very tedious for humans, error-prone, and subject to churn. The whole opportunity for Nurix is to get deep into business operations and see how AI can be applied,' he said. However, Meraki Labs' focus on AI may extend beyond enterprise use-cases. 'For Meraki, it wouldn't be surprising if the next thing we do is focused on consumers,' Ranjan said. Prior to joining Meraki Labs, Ranjan was engaged with Google as its general manager and vice president of engineering, where he led teams shaping AI-driven products including Google Assistant and parts of the Gemini app. Bansal, cofounder of leading fashion portal Myntra, has also backed companies such as Groww, Skyroot Aerospace and former Zomato executive Mohit Gupta's fashion startup Lyskraft through Meraki Labs. He used his personal capital to make these investments.
Yahoo
13-03-2025
- Business
- Yahoo
Nurix Therapeutics Appoints Drug Development Expert Roy D. Baynes, MB.Bch., M.Med., Ph.D., to Its Board of Directors
Dr. Baynes has been a member of Nurix's Medical Advisory Board since 2023 SAN FRANCISCO, March 13, 2025 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, announced today the appointment of Roy D. Baynes, Ph.D., to its board of directors. Dr. Baynes, who currently serves as executive vice president and chief medical officer of Eikon Therapeutics, has had a distinguished career in hematology and oncology and over 22 years of clinical leadership experience in pharmaceutical and biotech companies. 'Roy has been a trusted advisor to Nurix since 2023, and I am delighted to welcome him to our board of directors at this exciting time for the Company,' said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. 'His extensive experience in the development of innovative, blockbuster medicines will be invaluable as we advance our pipeline across oncology and autoimmune indications.' 'As a clinical advisor, I have been deeply impressed by Nurix's compelling science of protein degradation and the data that have been generated in the clinical trials of NX-5948 in patients with CLL and Waldenström macroglobulinemia, particularly in the face of growing resistance to BTK inhibitors,' said Dr. Baynes. 'I have thoroughly enjoyed working with this talented team of drug discoverers, and I look forward to my increased involvement in Nurix's plans for the clinical development and commercialization of its growing pipeline.' Prior to joining Eikon Therapeutics, Dr. Baynes was chief medical officer and head of global clinical development at Merck, where he supervised the entire clinical portfolio at Merck Research Laboratories and was the architect of the development strategy for dozens of important new medicines including pembrolizumab (Keytruda), a humanized monoclonal antibody used in cancer immunotherapy that treats multiple tumor types as well as two histology agnostic indications. Earlier in his career, Dr. Baynes served as Senior Vice President of Oncology, Inflammation and Respiratory Therapeutics at Gilead Sciences, Inc., as Vice President of Global Development and head of the hematology/oncology development team at Amgen, Inc., and as Professor of Medicine at University of Kansas Medical Center and Wayne State University in Detroit, where he held the Charles Martin endowed chair of Cancer Research. Dr. Baynes holds an (Bachelor of Medicine and Surgery), an (specialist registration in Internal Medicine), and a Ph.D. from the University of Witwatersrand. About Nurix Therapeutics, Inc. Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases. Nurix's wholly owned, clinical stage pipeline includes degraders of Bruton's tyrosine kinase (BTK), a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix also is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Nurix's partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4 and STAT6, as well as multiple additional programs under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by a fully AI-integrated discovery engine capable of tackling any protein class, and coupled with unparalleled ligase expertise, Nurix's dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine's next chapter with a new script to outmatch disease. Nurix is headquartered in San Francisco, California. For additional information visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts, including, but not limited to, statements regarding the expected contributions Dr. Baynes will bring to Nurix and Nurix's plans for the development and commercialization of its pipeline, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, the risks described under the heading 'Risk Factors' in Nurix's Annual Report on Form 10-K for the period ended November 30, 2024, and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Nurix's business and results of operations, which could, in turn, have a significant and adverse impact on Nurix's stock price. Nurix cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nurix undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events. Contacts: InvestorsJason Kantor, Therapeutics, Elizabeth Wolffe, Life Science Advisorslwolffe@ MediaAljanae ReynoldsWheelhouse Life Science Advisorsareynolds@ in to access your portfolio
