Degron Therapeutics Announces Multi-Target Collaboration and Exclusive Licensing Agreement with Takeda to Discover Novel Molecular Glue Degraders

San Diego, California, and Shanghai, China, May 23, 2024 -Degron Therapeutics, a biotechnology company focusing on the development of molecular glue degraders in the field of targeted protein degradation, today announced that it has entered into a collaboration and exclusive license agreement with Takeda Pharmaceutical Company Limited to discover and develop novel molecular glue degraders for multiple targets in the fields of oncology, neuroscience, and inflammation.

Degron Therapeutics will utilize its GlueXplorer^®The platform will discover, validate, and optimize molecular glue degraders for specific disease targets selected by Takeda. Upon reaching a certain stage of progress, these projects will be handed over to Takeda for further development and commercialization.

"We are thrilled to collaborate with Takeda to expand our platform into new therapeutic areas," said Dr. Lihui Zou, co-founder and CEO of Degron Therapeutics. "Degron's GlueXplorer...^®The platform's efficient and differentiated molecular glue discovery capabilities have been validated in its First-in-Class molecular glue pipeline, particularly for disease targets where traditional small molecules are undruggable or where protein degradation offers significant advantages. Through the collaboration with Takeda, we will fully integrate Degron Therapeutics' molecular glue discovery strengths with Takeda's extensive experience in drug development and commercialization, aiming to provide more treatment options for patients worldwide.

According to the terms of the agreement, Degron Therapeutics will receive an upfront payment and is eligible for potential future payments related to preclinical, clinical development, and commercialization milestones, with a total amount of up to 1.2 billion US dollars. In addition, Degron Therapeutics is also eligible to receive royalties on sales from any potential commercialized products. Both parties have the option to expand the scope of cooperation to include additional targets. Furthermore, Takeda will make an equity investment in Degron Therapeutics. Degron Therapeutics will retain full ownership of its own pipeline.

"Molecular glue degraders are a new class of drugs that can target previously undruggable or inadequately modulated targets through other therapeutic means," said Chris Arendt, Chief Scientific Officer and Head of Research at Takeda. "This collaboration with Degron Therapeutics not only adds an innovative new platform to our drug discovery toolbox but also serves as a model for our cooperation with cutting-edge innovation companies emerging in China's biotechnology sector."

Degron Therapeutics, founded in 2021 and based on the laboratory research of Professor Yong Cang, Ph.D., a professor at ShanghaiTech University and co-founder of the company, has developed its proprietary GlueXplorer.^®The platform includes a unique and continuously expanding and iterating molecular glue compound library, as well as multiple complementary screening and validation systems that can confirm the degradation mechanisms of the molecular glues discovered by the platform. Degron Therapeutics' discovery platform has accumulated a large amount of proprietary data and developed artificial intelligence algorithms to predict new molecular glue targets and accelerate compound optimization. Degron Therapeutics' molecular glue library features over 60 novel differentiated structural scaffolds and more than 10,000 compounds. A series of pipelines discovered using this platform include previously undruggable targets, which will demonstrate significant potential for the treatment of various diseases.

Degron Therapeutics is a research and development company that utilizes a globally leading molecular glue drug discovery platform to develop entirely new protein degradation drugs—molecular glue-type small molecule innovative medicines. The company’s unique GlueXplorer^®The platform includes a self-developed compound library with a unique scaffold structure and patent protection, as well as a screening and validation system, aimed at developing novel small-molecule drugs targeting critical disease targets, including previously undruggable ones. The company focuses on multiple fields such as cancer (including tumor immunology), immunology, and rare diseases, with the mission of benefiting human health. For more information, please visit www.degrontx.com.