Proxygen Announces Strategic Collaboration with Merck to Develop Molecular Glue Degraders
2.6.2022 18:00:00 EEST | Business Wire | Press release
Proxygen, a leader in the discovery and development of molecular glue degraders, announced today that the company has entered into a strategic multi-year research collaboration and license agreement with Merck. Proxygen is eligible to receive up to €495 million ($554 million at the average USD/EUR FX rate of Q1 2022) in continuous R&D funding, upfront and success-based pre-clinical, clinical, regulatory, and commercial milestones, as well as additional royalty payments. Under the terms of the agreement, the companies will jointly identify and develop molecular glue degraders up to a clinical candidate stage.
“We are incredibly excited to start this long-term collaboration with Merck, a globally recognized player in the pharmaceutical industry that shares our drive towards dynamic innovation for the benefit of patients. The partnership validates the unique potential of Proxygen’s glue degrader platform and strategically leverages our common strengths in the targeted protein degradation field,” says Dr. Bernd Boidol, CEO of Proxygen.
Molecular glue degraders re-direct the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Because of their capability to modulate protein classes that would not be amenable to traditional drug discovery approaches, glue degraders hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. The lack of scalable discovery strategies has however so far hindered the full exploitation of the clinical potential of molecular glue degraders.
By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. The ligase-agnostic screening approach enables the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The vast amounts of know-how and data generated in the discovery and chemical optimization of degrader molecules continuously improve the understanding of this novel modality and contribute to Proxygen’s pioneering role in the molecular glue degrader space.
About Proxygen
Founded in 2020, Proxygen is focused on the discovery and development of molecular glue degraders against targets of unmet medical need across various indications. While advancing its internal programs towards clinical development, the company also maintains strategic partnerships to co-create synergies along the drug development pipeline. With its headquarters and laboratory operations in Vienna, Austria, Proxygen employs talent both locally and remotely all over Europe. For more information, please visit www.proxygen.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005002/en/
Contact information
Proxygen GmbH
Bernd Boidol
Chief Executive Officer
office@proxygen.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
WHOOP Expands Commitment to Women's Health by Including One-Year Subscription of Natural Cycles° App in Membership4.8.2026 12:00:00 EEST | Press release
WHOOP, the human performance company, today announced an expansion of its women’s health offering through an integration with Natural Cycles° (NC°), the only FDA-cleared, hormone-free birth control app. WHOOP is offering a 12-month subscription to the NC° app to eligible new Natural Cycles users. Members with compatible WHOOP devices can now automatically share overnight skin temperature with the NC° app to enable personalized fertility insights and hormone-free birth control. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260804399367/en/ WHOOP Expands Commitment to Women's Health by Including One-Year Subscription of Natural Cycles° App in Membership The Natural Cycles app, a Class II medical device, uses biomarker data, including temperature and heart rate data, to identify fertile and non-fertile days, helping users prevent pregnancy without hormones while also providing fertility insights. Beyond birth control, the app
Alphatax Makes Two Acquisitions to Strengthen Transfer Pricing Capabilities4.8.2026 11:00:00 EEST | Press release
Alphatax, the global tax compliance software provider, has today announced the acquisitions of TP Accurate and Intra Pricing Solutions, expanding its transfer pricing capabilities and reinforcing its ambition to build the world's first tax operating system. The acquisitions strengthen Alphatax's transfer pricing portfolio with complementary capabilities across financial transactions and documentation. TP Accurate provides specialist software for intra-group financing arrangements, while Intra Pricing Solutions' flagship product, TPGenie, enables multinational organisations and advisors to produce transfer pricing documentation using intelligent automation and AI. Together, they expand Alphatax's ability to support the full transfer pricing lifecycle, helping customers manage compliance more efficiently while improving governance and reducing audit risk. They also represent another step towards Alphatax's long-term vision for the future of tax technology. By bringing these transfer pric
LabPMM® Launches Global KMT2A MRD Testing Service to Support Menin Inhibitor Development and Acute Leukemia Care4.8.2026 10:10:00 EEST | Press release
LabPMM®, an Invivoscribe® subsidiary, today announced the global availability of its new KMT2A measurable residual disease (MRD) testing service. The highly sensitive digital PCR service is available to healthcare providers, clinical researchers, and biopharmaceutical partners through LabPMM’s global laboratory network, with CAP/CLIA-accredited testing available in the U.S. The service addresses a growing need for accurate molecular monitoring in acute leukemias.1,2,3 KMT2A rearrangements (KMT2Ar) are oncogenic drivers in acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL).4 These rearrangements are present in about 80% of infant cases and 5-15% of childhood and adult leukemia cases.5 KMT2Ar leukemias are associated with chemotherapy resistance, high relapse rates, and poor clinical outcomes.5 The emergence of menin inhibitors is transforming the therapeutic landscape for patients with AML and ALL, particularly those with KMT2A-rearranged and NPM1-mutated disease.6 The
Mosaic Therapeutics appoints Dr Allison Jeynes as Chair of the Board4.8.2026 10:00:00 EEST | Press release
Mosaic Therapeutics, Ltd, (‘Mosaic’, or ‘the Company’) an oncology therapeutics company developing novel, targeted drug combinations across a range of haematological and solid cancers, today announced the appointment of Dr Allison Jeynes as Chair of the Board to support its next phase of growth and advancement towards clinical development. Allison succeeds Dr Edward Hodgkin, who remains a Non-Executive Director of the Board. Allison is a UK-trained oncologist and highly-experienced life sciences leader, and brings over three decades of drug development and executive experience to Mosaic Therapeutics. As CEO of Avillion, a clinical development company, for the last 13 years, she has led global teams to achieve a 100% success rate from Phase 3 development through to FDA approval for multiple programs spanning oncology, immunology and respiratory medicine. In addition, she raised funds of around $400M as founder and CEO. Across her career she has contributed to 20 drug approvals, engaging
TOHKnet and Adtran conduct Japan’s first 50G PON trial on a live network4.8.2026 10:00:00 EEST | Press release
Adtran today announced that TOHKnet has completed Japan’s first live network trial demonstrating the coexistence of 50G PON, XGS-PON and EPON on a single fiber. Conducted in Sendai using Adtran’s SDX 6400 Series OLT, the demo showed how the platform enables three generations of PON technology to operate together in a live service environment. The results highlight a realistic path for operators to introduce 50G PON capacity while maintaining continuity for existing services, maximizing the value of deployed fiber assets and reducing the complexity and disruption typically associated with network upgrades. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260803353435/en/ Adtran’s SDX 6400 Series is helping TOHKnet demonstrate how Japan’s operators can migrate to 50G PON without disrupting existing PON services. “As demand for digital services continues to grow, this trial is a key milestone for the future of fiber access in Jap
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom