Lilly attracted to molecular glue space via deal with Magnet

Massachusetts, USA-based start-up Magnet Biomedicine, which is advancing molecular glue discovery with rational selection and design, has announced a collaboration and license agreement with pharma major Eli Lilly & Co (NYSE: LLY) to discover, develop, and commercialize molecular glue therapeutics in oncology.

The collaboration will leverage Magnet's TrueGlue discovery platform to identify molecular glues capable of inducing protein proximity and cooperativity, enabling novel mechanisms of action to address difficult-to-drug targets spanning multiple diseases with unmet medical need.

"This collaboration supports our differentiated approach and efforts to reimagine what's achievable through the next generation of molecular glues to drive breakthrough therapies," said Brian Safina, chief executive of Magnet. "Lilly's commitment to innovation and deep expertise in bringing transformative medicines to patients make it an ideal partner for Magnet as we harness the untapped potential of molecular glues," he noted.