VIENNA, AUSTRIA, November 15, 2023 — Proxygen, a leader in the discovery and development of molecular glue degraders, today announced the formation of the company’s scientific advisory board (SAB). The newly appointed SAB, which is comprised of highly regarded thought leaders in the emerging field of protein degradation, will offer scientific expertise and guidance to Proxygen as the company works to advance its internal molecular glue degrader programs toward clinical development. In addition to its internal programs, Proxygen is also actively engaged in strategic research collaboration and license agreements with Merck & Co (known as MSD outside the U.S. and Canada), Boehringer Ingelheim and Merck KGaA designed to jointly identify and develop novel molecular glue degraders.

“As a company at the forefront of translating the latest protein degradation research into the discovery and development of first-of-their-kind molecular glue degraders, we are fortunate to align with several of the brightest minds in this field. We are excited to add Drs. Schulman and Draetta to the Proxygen team as key advisors and pair them with Drs. Winter and Kubicek, who co-founded the company based on their trailblazing research at CeMM,” said Bernd Boidol, Ph.D., chief executive officer of Proxygen. “We are proud of the momentum that we continue to generate as we strive to achieve our goal of developing novel therapeutics to address the significant unmet needs of patients around the world.  In addition to building a proprietary molecular glue discovery engine, creating a pipeline of promising internal programs, and establishing collaborations with three major pharmaceutical companies, we have also now assembled a premier board or directors and prestigious SAB to provide key guidance as we continue to work to achieve our mission.”

The members of Proxygen’s newly formed scientific advisory board include:

 

Brenda Schulman, Ph.D., Director, Max Planck Institute of Biochemistry

Dr. Schulman is a leading biochemist and structural biologist who is highly regarded for her significant contributions to understanding the regulation of E3 ubiquitin ligases. Her lab at the Max Planck Institute of Biochemistry, and at St. Jude Children’s Research Hospital, is recognized for illuminating mechanisms of ubiquitin and ubiquitin-like protein ligation, and for using a distinctive biochemical reconstitution approach to identify novel in vivo regulatory pathways. Dr. Schulman is an elected member of American Academy of Arts and Sciences, the National Academy of Sciences and EMBO. She has been awarded several prizes including the Gottfried Wilhelm Leibniz Prize, the Ernst Jung Prize for Medicine, and the Louis-Jeantet Prize for Medicine. Prior to joining the Max Planck Institute in 2017, Dr. Schulman’s career also included conducting pioneering research at the Massachusetts General Hospital Cancer Center, Memorial Sloan Kettering Cancer Center, and as a Howard Hughes Medical Institute Investigator at St. Jude Children’s Research Hospital.

 

Giulio Draetta, M.D., Ph.D., Professor, Genomic Medicine, and Chief Scientific Officer, The University of Texas MD Anderson Cancer Center

Dr. Draetta is a physician scientist who has spent nearly three decades in oncology research and drug discovery in both academia and industry. He is widely recognized for spearheading fundamental research in the biology of the eukaryotic cell division cycle and of DNA damage induced checkpoints. Currently, his research focuses on pancreatic cancer and glioblastoma, using functional genomics to identify novel tumor dependencies and evaluate their potential for therapeutic translation.  Over the years, Dr. Draetta has leveraged his translational expertise as a co-founder of several biotechnology companies and a leader of global research in large pharmaceutical companies. Prior to joining MD Anderson, he had been chief research business development officer and deputy director of the Belfer Institute for Applied Cancer Science at Dana Farber Cancer Institute, as well as head of oncology drug discovery at Pharmacia and Merck.

 

Georg Winter, Ph.D., Principal Investigator, CeMM, the Research Center for Molecular Medicine of the Austrian Academy of Sciences

Dr. Winter is a pioneer in the emerging field of protein degradation, having been credited with publishing the first paper reporting on in vivo target protein degradation. Today, his research as a principal investigator at CeMM is focused on using the unique pharmacology of targeted protein degradation to understand and disrupt aberrant gene control circuits in cancer. In particular, his group develops and implements functional genomics technologies to mechanistically characterize how E3 ligases can be hijacked with small molecules. Dr. Winter is a scientific co-founder of Proxygen and Solgate Therapeutics. His contribution to the field of targeted protein degradation has been honored through multiple international prices and awards, including the Tetrahedron Young Investigator Award (2023), the Wilson S. Stone Memorial Award from MD Anderson (2021) and the Eppendorf Award (2019).

 

Stefan Kubicek, Ph.D., Head of CeMM Molcular Discovery Program

Dr. Kubicek is a highly regarded researcher focused on chromatin, epigenetics, and small molecules that change cell fates in oncology and diabetes. He is a principal investigator at CeMM, where he previously headed the Christian Doppler Laboratory for Chemical Epigenetics and Anti-infectives and now serves as head of the Molecular Discovery Program. An organic chemist by training, his research focuses on the discovery and characterization of bioactive small molecules. This resulted in developing the first selective histone methyl transferase inhibitors as part of his Ph.D. and multiple chemical probes during his postdoctoral research with Stuart Schreiber at the Broad Institute of Harvard and MIT and in his own laboratory. Research in Dr. Kubicek’s lab is funded by several organizations including the Austrian Academy of Sciences, the European Union, and the Juvenile Diabetes Research Foundation (JDRF), among others.

Molecular glue degraders redirect the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. However, the lack of scalable discovery strategies has so far hindered the full exploitation of the clinical potential of molecular glue degraders.

By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. This screening approach enables the specific identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality.

 

About Proxygen

Proxygen is a leader in the discovery and development of molecular glue degraders against targets of unmet medical need across various indications. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Merck & Co (known as MSD outside the U.S. and Canada), Boehringer Ingelheim and Merck KGaA, to co-create synergies along the drug development pipeline. With its headquarters and laboratory operations in Vienna, Austria, Proxygen employs talent both locally and remotely all over Europe. Learn more at: www.proxygen.com.

 

Contacts:

Proxygen
Bernd Boidol, Ph.D.
Chief Executive Officer
management@proxygen.com

 

Vida Strategic Partners (on behalf of Proxygen)
Tim Brons (Media)
415-675-7402
tbrons@vidasp.com

 

VIENNA, AUSTRIA, August 28, 2023 — Proxygen, a leader in the discovery and development of molecular glue degraders, today announced that Fierce Biotech has named it as one of 2023’s “Fierce 15” biotechnology companies. The annual special report features the most innovative and promising early-stage biotechnology companies in the industry.

“It is an incredible honor to be recognized as one of the Fierce 15 biotech companies for 2023,” said Bernd Boidol, Ph.D., chief executive officer of Proxygen. “We have seen Proxygen going through an outstandingly successful development over the last three years. Our team of world-class scientists combined with a unique platform has enabled significant progress for both our internal programs and strategic collaborations. We are excited to see these efforts coming to fruition.”

Molecular glue degraders redirect the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. However, the lack of scalable discovery strategies has so far hindered the full exploitation of the clinical potential of molecular glue degraders.

By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. The unbiased screening approach enables the specific identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality.

“For the past 21 years, we have assessed hundreds of early-stage companies for inclusion in the ‘Fierce 15’ special report. To curate this list, we consider a diverse range of factors, including the robustness of their technology, partnerships, venture support and their competitive positioning within the market,” said Ayla Ellison, Editor-in-Chief, Fierce Life Sciences and Healthcare. “Our special report celebrates innovation and creativity in the face of intense competition.”

 

About Fierce Biotech

Fierce Biotech is the biotech industry’s daily monitor, providing the latest news, articles, and resources related to clinical trials, drug discovery, FDA approval, FDA regulation, patent news, pharma news, biotech company news and more. More than 300,000 top biotech professionals rely on Fierce Biotech for an insider briefing on the day’s top stories.

 

About Proxygen

Proxygen is a leader in the discovery and development of molecular glue degraders. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space. Proxygen has developed a highly versatile, proprietary discovery engine supporting the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Boehringer Ingelheim, Merck KGaA, and Merck & Co Inc. (known as MSD outside the U.S. and Canada) to co-create synergies along the drug development pipeline.

 

Contacts:

Proxygen
Bernd Boidol, Ph.D.
Chief Executive Officer
management@proxygen.com

 

VIENNA, AUSTRIA, April 5, 2023 — Proxygen, a leader in the discovery and development of molecular glue degraders, announced today a multi-year research collaboration and license agreement with Merck & Co Inc., Rahway, N.J., USA, known as MSD outside the U.S. and Canada, to jointly identify and develop molecular glue degraders against multiple therapeutic targets.

“We are very excited to announce this collaboration with MSD and look forward to combining our innovative platform technology and unique expertise in identifying novel molecular glue degraders with MSD’s world class research and development capabilities. This partnership provides us with the framework and resources to further leverage our platform for the discovery of new drugs against challenging targets,” says Bernd Boidol, Ph.D., chief executive officer of Proxygen.

Under the terms of the agreement, Proxygen will receive an upfront payment from MSD and be eligible for future payments of up to $2.55 billion based on the achievement of specified research, development, and commercial milestones across all programs. Additionally, Proxygen is eligible to receive royalties on net sales of any such products.

“Advances in our understanding of molecular glue degraders are opening exciting new avenues in the pursuit of novel therapeutic mechanisms,” said Robert M. Garbaccio Ph.D., vice president and head of Discovery Chemistry at MSD. “We look forward to working with the Proxygen team to advance this promising area of research and evaluate new opportunities to treat disease.”

 

About Proxygen

Proxygen is a leader in the discovery and development of molecular glue degraders. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space. Proxygen has developed a highly versatile, proprietary discovery engine supporting the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Boehringer Ingelheim and Merck KGaA, to co-create synergies along the drug development pipeline.

 

Contacts:

Proxygen
Bernd Boidol, Ph.D.
Chief Executive Officer
management@proxygen.com

 

Vida Strategic Partners (on behalf of Proxygen)
Tim Brons (Media)
415-675-7402
tbrons@vidasp.com

 

VIENNA, AUSTRIA, March 15, 2023 — Proxygen, a leader in the discovery and development of molecular glue degraders, today announced the formation of the company’s board of directors. The newly appointed board of independent directors, which is comprised of highly regarded leaders within their respective life science industry disciplines, will provide oversight and strategic guidance to Proxygen as the company works to advance its internal molecular glue degrader programs toward clinical development. In addition to its internal programs, Proxygen is also actively engaged in strategic research collaboration and license agreements with Boehringer Ingelheim and Merck KGaA designed to jointly identify and develop novel molecular glue degraders.

“Since our founding in 2020, Proxygen has made great strides in advancing pioneering work in the field of molecular glue degraders, particularly in developing a proprietary discovery engine capable of addressing challenges related to molecular glue degrader identification. Our unique platform has enabled significant progress for both our internal programs, as well as strategic collaborations,” said Bernd Boidol, Ph.D., chief executive officer of Proxygen. “As we work to continue this momentum, we are excited to have assembled a board of directors comprised of accomplished life science industry veterans with such broad ranging expertise. We look forward to leveraging their strategic guidance as we take the step forward in our maturation as a leading biotech company.”

 

The members of Proxygen’s newly formed board of directors include:

Nina Kjellson, General Partner, Canaan

Nina is a highly experienced biotech investor and entrepreneur who focuses on investing in biopharma and digital health companies that serve unmet therapeutic needs. She is a board member of several biotech companies both private and publicly listed and a vocal advocate for women entrepreneurs and investors. Her expertise and experience allow her to quickly identify and support promising biotech companies with high growth and returns potential.

Reinhard Kandera, Chief Financial Officer, Hookipa

Reinhard is a seasoned finance professional with over 25 years of experience in banking and the healthcare industry. He has a strong track record of driving growth, building organizations and transforming businesses through strategic thinking and creative solutions. Throughout his career as a biotech executive, he has managed numerous private and public equity raises, including initial public offerings, as well as debt financings, M&A transactions and strategic partnerships.

Constanze Ulmer-Eilfort, Ph.D., Partner, PSP Peters, Schönberger & Partner

Constanze is a highly accomplished attorney who has dedicated her career to helping clients navigate the complex world of intellectual property and licensing. With over 30 years of experience, she has become a leading expert in the life sciences industry and is known for her innovative approach to negotiating transactions and solving challenging IP issues. A member of the bar in both Germany and New York,  Constanze’s interest lies in sustainability (ESG), and the development of purpose-led, high performing leaders and organizations.

Giulio Superti-Furga, Ph.D., Scientific Director and CEO of CeMM, the Research Center for Molecular Medicine of the Austrian Academy of Sciences

A co-founder of Proxygen, Giulio is a highly respected scientist and leader in the fields of systems biology and personalized medicine. Throughout his career, he has made significant contributions to the fields of gene regulation and pharmacology and has published numerous papers in prestigious scientific journals. In addition to his scientific work, he also has extensive experience in building and leading scientific organizations, managing large projects and diverse teams in parallel, and connecting research institutions around the globe.

 

Molecular glue degraders redirect the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. However, the lack of scalable discovery strategies has so far hindered the full exploitation of the clinical potential of molecular glue degraders.

By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. The ligase-agnostic screening approach enables the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality.

 

About Proxygen
Proxygen is a leader in the discovery and development of molecular glue degraders against targets of unmet medical need across various indications. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Boehringer Ingelheim and Merck KGaA, to co-create synergies along the drug development pipeline. With its headquarters and laboratory operations in Vienna, Austria, Proxygen employs talent both locally and remotely all over Europe. Learn more at: www.proxygen.com.

 

Contacts:
Proxygen
Bernd Boidol, Ph.D.
Chief Executive Officer
management@proxygen.com

Vida Strategic Partners (on behalf of Proxygen)
Tim Brons (Media)
415-675-7402
tbrons@vidasp.com