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
IQM and Real Asset Acquisition Corp. Announce Effectiveness of Registration Statement for Proposed Business Combination8.6.2026 17:16:00 EEST | Press release
IQM Finland Oy, a global leader in full-stack superconducting quantum computers (“IQM”, “IQM Quantum Computers” or the “Company”), and Real Asset Acquisition Corp. (Nasdaq: RAAQ), a special purpose acquisition company (“RAAQ”), announced today that the registration statement on Form F-4 (the “Registration Statement”), relating to their previously announced business combination, has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) on June 5, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608520188/en/ IQM Radiance quantum computer The extraordinary general meeting of RAAQ’s shareholders in connection with the proposed business combination (the “Extraordinary General Meeting”) will be held on June 25, 2026. The proxy statement/prospectus relating to the Extraordinary General Meeting was mailed to RAAQ’s shareholders of record as of the close of business on June 3, 2026 (the “Record Date”)
Resident Evil Veronica to Launch in 2027!8.6.2026 16:00:00 EEST | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that Resident Evil Veronica, the latest title in the Resident Evil series, is scheduled for release in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608994346/en/ Resident Evil Veronica key art The Resident Evil franchise features survival horror games in which players utilize a variety of weapons and other items to survive terrifying situations. Supported by a passionate global fanbase, cumulative game sales since the first title in this flagship series debuted in 1996 exceed 201 million* units. Resident Evil Veronica is a remake of the original Resident Evil Code: Veronica, released in the year 2000. While preserving the appeal of the original, Capcom is developing the 2027 release as the latest installment of the Resident Evil series, with a reimagined story and high-quality graphics made possible by the company’s proprietary RE ENGINE. The company is steadily develo
Neuraptive Therapeutics, Inc. Announces Key Organizational Updates to Support the Company’s Advancement Toward Commercialization8.6.2026 16:00:00 EEST | Press release
Neuraptive Therapeutics today announced the appointment of Ulf Wiinberg to its Board of Directors and William “Bill” MacKenzie as Senior Vice President – Finance. Mr. Wiinberg is a seasoned biotechnology, pharmaceutical and healthcare industries executive with an extensive global career. As a member of the Board of Directors, he will contribute strategic guidance and industry expertise to support the Company’s development and commercialization strategy. Mr. Wiinberg’s experience includes serving as CEO of X-Vax Technology, Inc. from 2017 until 2024 and prior to that, he was CEO of Lundbeck from 2008 until 2014. From 2002 to 2008, he was a member of Wyeth’s Management Committee and during this time, he was Worldwide President of Wyeth Consumer Healthcare from 2002 to 2005, and President of Europe/Middle East/Africa until 2008, when Wyeth was acquired by Pfizer. Ulf serves as a director on several company boards including UCB, a global biopharmaceutical company headquartered in Brussels,
Monster Hunter Wilds: Ascendance to Launch in 2027!8.6.2026 16:00:00 EEST | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that Monster Hunter Wilds: Ascendance, a massive expansion for Monster Hunter Wilds, is scheduled for release in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608183725/en/ Monster Hunter Wilds Ascendance key art Monster Hunter Wilds: Ascendance is a massive expansion (paid content) for Monster Hunter Wilds, which was released in February 2025. As a continuation of the main game’s story, the expansion will further deepen the gameplay experience with new content including new quest ranks, locales, additional monsters and expanded weapon actions through new gameplay features. The company is currently developing the title for release in 2027. Capcom is also developing Monster Hunter Wilds for Nintendo Switch™ 2 in addition to the existing platforms. Further details will be announced in future official updates. The Monster Hunter series has expanded its user base globally t
AB InBev Turns Bars into Stadiums During Biggest-Ever FIFA World Cup™8.6.2026 15:00:00 EEST | Press release
Today, AB InBev, the world’s leading brewer, launched its global “Cheers to Bars” platform – a celebration of local bars and their impact on communities all over the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608956519/en/ Bars have always been more than places to grab a beer. They are where people come together to connect, celebrate milestones, build friendships, and create lasting memories. As hubs of social connection, bars play an important role in strengthening communities and bringing people closer together. “During the FIFA World Cup 2026™, bars will become the beating heart of every neighborhood – places where strangers become friends, every goal is celebrated as one, and collective memories are created with every raised glass,” said Michel Doukeris, CEO, AB InBev. “Beer and football have long been catalysts for bringing people together to create moments of joy and belonging. Nowhere is this spirit of b
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