PROXYGEN/MERCK
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
.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005002/en/
Link:
About Business Wire
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
DevvStream and Southern Energy Renewables Announce Business Combination Targeting Low-Cost Production of Carbon-Negative SAF and Green Methanol3.12.2025 15:40:00 CET | Press release
Combination integrates carbon-credit origination expertise with U.S.-produced, lower-cost carbon-negative fuels to meet growing global demandSouthern secures a $402 million bond allocation from the Louisiana Community Development Authority in support of its flagship biomass-to-fuel facilitySouthern makes initial PIPE Investment in DevvStream of approximately $2.0 million at $15.58 per share DevvStream Corp. (Nasdaq: DEVS) (“DevvStream”), a leading carbon management and environmental-asset monetization firm, and Southern Energy Renewables Inc. (“Southern”), a U.S.-based producer of low-cost fuels made from biomass, with a flagship Louisiana project that plans to utilize regional wood-waste biomass to deliver green methanol and carbon-negative sustainable aviation fuel (“SAF”) at scale, today announced that they have entered into a definitive agreement to combine under a new U.S.-domiciled, Nasdaq-listed company, following customary closing conditions. The new company plans to help aviat
Pattern Announces Acquisition of ROI Hunter, Connecting Product-Level Advertising and Marketplace Performance for Global Brands3.12.2025 15:00:00 CET | Press release
Pattern Group Inc. (Nasdaq: PTRN), a leader in accelerating brands on global ecommerce marketplaces by leveraging proprietary technology and AI, today announced that it has acquired ROI Hunter a.s., a performance-driven retail media platform for brands and retailers. ROI Hunter integrates product, marketing, and merchandising data into a single source of truth, enabling margin-informed, SKU-level advertising decisions across major walled-garden platforms including Google, Meta, and Snap. The acquisition strengthens Pattern’s position as the world’s leading ecommerce accelerator and expands the company’s AI-driven advertising capabilities across Meta, Google and Snapchat. ROI Hunter brings a defensible, SKU-level data moat anchored in API integrations and more than $1.8B in media managed annually, enabling a uniquely granular view of product-level performance. “We are thrilled to welcome the ROI Hunter team to Pattern,” said Dave Wright, Co-founder and CEO of Pattern. “Their deep techni
Rimini Street Launches Rimini Agentic UX™ to Bring Agentic AI Innovation to ERP Processes3.12.2025 15:00:00 CET | Press release
Rimini Agentic UX is being implemented across dozens of client projects, delivering intelligent process automation, AI-driven productivity and enterprise-wide visibility — without requiring expensive upgrades, migrations or budget increases Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today introduced Rimini Agentic UX™, an intelligent, AI-driven user engagement layer that streamlines ERP process execution for efficiency and significant savings, delivering persona- and role-based automation and productivity enhancements without the need for costly ERP Software upgrades or migrations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251203473078/en/ Rimini Street Launches Rimini Agentic UX™ to Bring Agentic AI Innovation to ERP Processes Rimini Agentic UX Redefines ERP Process Execution Rimini Agentic UX co
GCL Evolves Into The Rock-It Company, Uniting Leading Logistics Platform of Live Events and Luxury Goods Services Under a New Banner3.12.2025 15:00:00 CET | Press release
Built on the 47-year legacy of Rock-It Cargo and a growing platform across multiple end markets, the evolution marks a new era of growth and acceleration for the company Global Critical Logistics (GCL) announced today its brand evolution into the newly unveiled identity of The Rock-It Company, uniting its diverse portfolio under the iconic and globally recognized name. The announcement arrives as Rock-It delivers some of the world’s most impactful cultural moments this week including the Final Draw of the FIFA World Cup 2026™ in Washington D.C., Art Basel in Miami, The Conference at Rock Lititz and several concerts and automotive events in Abu Dhabi, including the RM Sotheby’s Auction. These marquee events all coincide with a extensive slate of global tours, film productions, broadcast operations, and experiential projects that span multiple continents. Together, these iconic moments contribute to the more than 10,000 mission-critical projects that Rock-It enables each year through its
Pattern Announces Acquisition of ROI Hunter, Connecting Product-Level Advertising and Marketplace Performance for Global Brands3.12.2025 15:00:00 CET | Press release
Pattern Group Inc. (Nasdaq: PTRN), a leader in accelerating brands on global ecommerce marketplaces by leveraging proprietary technology and AI, today announced that it has acquired ROI Hunter a.s., a performance-driven retail media platform for brands and retailers. ROI Hunter integrates product, marketing, and merchandising data into a single source of truth, enabling margin-informed, SKU-level advertising decisions across major walled-garden platforms including Google, Meta, and Snap. The acquisition strengthens Pattern’s position as the world’s leading ecommerce accelerator and expands the company’s AI-driven advertising capabilities across Meta, Google and Snapchat. ROI Hunter brings a defensible, SKU-level data moat anchored in API integrations and more than $1.1B in media managed annually, enabling a uniquely granular view of product-level performance. “We are thrilled to welcome the ROI Hunter team to Pattern,” said Dave Wright, Co-founder and CEO of Pattern. “Their deep techni
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