Fierce Biotech August 6, 2024
Big Pharmas remain stuck to the idea of molecular glue degraders. The latest company to see an opportunity is Japan’s Eisai, which has signed a $1.5 billion biobucks pact with SEED Therapeutics for undisclosed neurodegeneration and oncology targets.
The agreement will see Pennsylvania-based SEED take the lead on preclinical work to identity the targets, including E3 ligase selection and picking out the appropriate molecular glue degraders. Eisai will then have exclusive rights to further develop the resulting compounds.
In return, SEED is in line for up to $1.5 billion in potential upfront, preclinical, regulatory and sales-based milestone payments, although the companies didn’t offer a detailed breakdown of the financial details. Should any drugs make it to market, SEED will also...
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