Emerging biotech SyntheX and Bristol Myers Squibb will be working together to develop and commercialize targeted protein degradation (TPD) therapeutics.
Specifically, the partnership will leverage San Francisco-based SyntheX’s ToRNeDO platform to hopefully discover molecular glue degraders against targets of interest. The proprietary technology uses synthetic biology to build next-generation discovery engines by using intracellular drug selection as opposed to in vitro screening.
Using a pre-specified E3 ligase and a substrate of interest, the company can discover functional molecular glues for a variety of human E3 ligases, which play a pivotal role in the regulation of many different crucial cellular pathways such as p53, implicated in cancer.
As a part of the agreement, SyntheX will receive an upfront sum of cash and investment, and is eligible for performance-based milestone payments totaling $550 million.