An upstart protein degradation contender adds Merck KGaA and Bristol Myers to its list of Big Pharma backers
Amphista Therapeutics may not be the best-known name in the protein degradation wing of biotech, but it has some marquee pharma names backing its work. And this morning, the biotech is adding two more: Merck KGaA and Bristol Myers Squibb.
The two multinationals have signed on with Amphista for a pair of discovery deals. Together they are contributing $74 million in cash upfronts and R&D support as the Cambridge-based operation pursues its work in a crowded field. Milestones for both break the $2 billion mark.
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