ZURICH, June 8 (Reuters) - Swiss pharmaceutical giant Roche ROPC.S has entered an exclusive licensing and collaboration agreement with Nurix Therapeutics NRIX.O of up to $2.3 billion, the company said on Monday.

• The deal focuses on blood cancer drug bexobrutideg, which degrades targeted proteins and is planned to enter a phase III clinical trial initiation for chronic lymphocytic leukaemia (CLL) in the summer

• Nurix will receive $700 million upfront, with possible payouts for development, regulatory and sales milestones

• "We believe bexobrutideg could represent a major leap forward in the fight against complex blood cancers and other diseases," Levi Garraway, Roche chief medical officer and head of global product development said

• The deal is expected to close in the third quarter of 2026

• Development costs for the drug will be covered 60% by Roche and 40% by Nurix

• The companies will co-commercialise the drug in the United States, where they will split the profits and losses equally, while Roche will commercialise outside of the U.S., paying Nurix royalties