On October 15, 2024 TRIANA Biomedicines, Inc. (TRIANA), a leading biopharmaceutical company focused on building a target-first molecular glue discovery pipeline for inactivating difficult to address disease targets, reported that it has entered into a strategic collaboration and licensing agreement with Pfizer to discover novel molecular glue degraders for multiple targets in several disease areas, including oncology (Press release, Triana Biomedicines, OCT 15, 2024, View Source [SID1234647208]).

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"We are thrilled to partner with Pfizer to create potentially transformative medicines for disease targets with critical unmet needs, leveraging our molecular glue and E3-ligase pairing platform" said Patrick Trojer, Ph.D., President and Chief Executive Officer of TRIANA Biomedicines. "This collaboration agreement signifies an important milestone in the evolution of TRIANA, as the company advances towards delivering on its product focused strategy."

"This collaboration with TRIANA Biomedicines on molecular glue discovery reflects our commitment to exploring cutting-edge technologies to drive the next wave of potential breakthroughs," said Jeff Settleman, Ph.D., Chief Scientific Officer of Pfizer Oncology. "We look forward to working together to advance scientific innovation for patients living with cancer."

Under the terms of the collaboration agreement, TRIANA will receive an upfront payment of $49 million, and is eligible to receive potential future milestone payments exceeding $1.5 billion as well as tiered royalties. TRIANA will leverage its target-first and proximity-first molecular glue discovery platform to identify novel molecular glue degraders against multiple targets across various disease areas including oncology.

TRIANA will lead the discovery and identification of potential development candidates. Pfizer has the exclusive option for an exclusive license to pursue further preclinical and clinical development.