Stuart Schreiber startup launches with $50M to take molecular glue medicines beyond protein degradation
19 Sep 2023
PROTACs
Magnet Biomedicine launched Tuesday morning with $50 million in Series A financing to expand the scope of molecular glues, drugs that link two proteins together to change their behavior. Founding investor Newpath Partners and ARCH Venture Partners led the round.
Most molecular glue research has focused on compounds that pair a badly behaving protein with a single E3 ligase — a large family of enzymes that tag proteins for degradation. Magnet was founded to develop different kinds of matchmaker molecules.
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Source: EndPoints
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