An­oth­er pro­tein degra­da­tion biotech emerges, with the promise of a new ap­proach from an old hand

The mon­ey keeps pour­ing in for pro­tein degra­da­tion.

A field that six years ago had the fi­nan­cial equiv­a­lent of tum­ble­weed is now flush with cash. Last month, a pair of biotechs, now backed with big phar­ma and big biotech deals, land­ed a to­tal of $222 mil­lion in fund­ing on con­sec­u­tive days. And in Oc­to­ber, Plex­i­um launched out of San Diego with $28 mil­lion in Se­ries A fi­nanc­ing and a promise for a dif­fer­ent ap­proach to a bare­ly adult field.

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