Proxygen is eligible to receive up to €495 million 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.
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 enabling innovative therapies for diseases with high medical need.
Proxygen was founded as a spin-off of the Research Center for Molecular Medicine of the Austrian Academy of Sciences (CeMM) by Georg Winter, Matthias Brand, Stefan Kubicek and Giulio Superti-Furga.
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