Amgen takes a punt on Plexium for discovering molecular glue degraders

Biotech major Amgen (Nasdaq: AMGN) and privately-held Plexium have announced an exclusive, worldwide, multi-year research collaboration and license agreement to identify new targeted protein degradation therapeutics toward historically challenging drug targets.

The multi-year collaboration supports the discovery of molecular glue therapeutics leveraging insights from Amgen’s expertise in developing multi-specific molecules. Initially, the focus is on two programs, with the larger company holding options to add additional programs.

"We are on the cusp of a new era of drug discovery where medicines could function very differently than conventional ones do today"Fellow Californian firm Plexium is eligible to receive more than $500 million in success-based target access, pre-clinical, clinical, regulatory and commercial milestones, as well as tiered single-digit royalty payments, if all options are exercised.