So today we read that it added US Merck to the roster (of course, in the EU, our Merck is called MSD). It already had a deal with German Merck (no relation) for what may be up to around $554 million in bio-bucks, from last fall. It also has a deal with Boehringer Ingelheim (from 2020 -- funding terms wholly undisclosed -- withheld).
Yep. That is pretty heady company, already. Here's Fierce with the latest:
. . .Proxygen’s molecular glue ambitions are continuing to take shape as the Austrian biotech sticks together a third licensing deal in less than three years. . . .
The company has signed a licensing agreement with Merck & Co. worth more than $2.55 billion in biobucks, according to an announcement Wednesday. How much the biotech is receiving upfront, or how many targets it is offering the U.S. Big Pharma, remains undisclosed. . . .
Proxygen has been able to stay under the radar in part because the biotech hasn’t taken any venture capital money, relying solely on grants and upfront payments received from the trio of deals.
With a handful of external projects and ongoing internal development, Proxygen would appear to have its work cut out, though Boidol didn’t exclude the potential for another deal within the next year and half. He acknowledged that the team has “a lot of things that we're executing at the moment. . . .”
Proyxgen’s potential [lies in its ability] to churn out molecular glue degraders, druglike compounds that stick problematic proteins with ubiquitin ligase, destroying the protein. . . .
Now you know -- this has the potential to make many diseases (previously considered "undruggable") amenable to a new class of drugs, called molecular glue degraders. Instead of merely inhibiting a harmful protein’s function, molecular glue degraders eliminate the protein completely. They do this by reprogramming the natural protein recycling machinery present in every cell.
Onward grinning -- after a wonder-filled day with my baby-girl. . . smile. Six years on, exactly.
नमस्ते
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