Bayer Pays Arvinas $50m To Form Protein Degrader R&D Pact
The partnership gives the German major another potential source of drugs to treat cardiovascular, oncological and gynecological diseases.
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The Boston-based biotech has secured a substantial new investment for its protein degradation platform which has the potential to treat currently undruggable cancers in a new way.
Biopharma companies raised $12.4bn in Q2, largely from follow-on public offerings. In the latest mega-merger of the year, AbbVie spent $63bn on Allergan and its established portfolio. Many of the higher-valued alliances focused on the area of protein degradation.
Gilead is elbowing its way into the protein degradation field, seeking to build out a pipeline of oncology drugs in a $45m deal with Nurix. The pool is becoming crowded though, as many other big firms have latched onto this burgeoning field of R&D.