On April 5 2023 Proxygen, a leader in the discovery and development of molecular glue degraders, reported a multi-year research collaboration and license agreement with Merck & Co Inc., Rahway, N.J., USA, known as MSD outside the U.S. and Canada, to jointly identify and develop molecular glue degraders against multiple therapeutic targets (Press release, Proxygen, APR 5, 2023, View Source [SID1234629837]).
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"We are very excited to announce this collaboration with MSD and look forward to combining our innovative platform technology and unique expertise in identifying novel molecular glue degraders with MSD’s world class research and development capabilities. This partnership provides us with the framework and resources to further leverage our platform for the discovery of new drugs against challenging targets," says Bernd Boidol, Ph.D., chief executive officer of Proxygen.
Under the terms of the agreement, Proxygen will receive an upfront payment from MSD and be eligible for future payments of up to $2.55 billion based on the achievement of specified research, development, and commercial milestones across all programs. Additionally, Proxygen is eligible to receive royalties on net sales of any such products.
"Advances in our understanding of molecular glue degraders are opening exciting new avenues in the pursuit of novel therapeutic mechanisms," said Robert M. Garbaccio Ph.D., vice president and head of Discovery Chemistry at MSD. "We look forward to working with the Proxygen team to advance this promising area of research and evaluate new opportunities to treat disease.