New Treatment Modalities: Protein Degraders And Molecular Glues Gain Traction
Taking Aim At Recalcitrant Targets
In 2020, investors poured millions of dollars into biotech companies searching for new therapeutics that interact with cellular processes involving the destruction and recycling of cellular proteins. These protein degradation-targeted therapies, and molecular glues, have been attracting the attention of big pharma too.
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Private Company Edition: Venture capital mega-rounds continue a brisk pace with machine learning-based drug discovery firm insitro and gene therapy developer Graphite Bio among recent $100m-plus deals. Also, Argobio raised €50m to fund five start-ups in Europe.
Public Company Edition: Initial public offerings may take a holiday break, but 2020 already has been a remarkable year for IPOs in the US and China. Also, Arvinas led the latest follow-ons with a $400m offering followed by TG Therapeutics with a $275m stock sale.
After raising nearly $330m this year, via a financing and IPO, the company is gearing up for a first-in-human trial using its platform technology.