Stuart Schreiber startup launches with $50M to take molecular glue medicines beyond protein degradation

Ryan Cross

Senior Science Correspondent

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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Stuart Schreiber startup launches with $50M to take molecular glue medicines beyond protein degradation

Ryan Cross

Senior Science Correspondent

Unlock this article instantly by becoming a free subscriber.

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Stu­art Schreiber start­up launch­es with $50M to take mol­e­c­u­lar glue med­i­cines be­yond pro­tein degra­da­tion

Ryan Cross

Senior Science Correspondent

Unlock this article instantly by becoming a free subscriber.

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Stuart Schreiber startup launches with $50M to take molecular glue medicines beyond protein degradation

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Despite a summer of blockbuster rounds, biotech funding is on track to level off at pre-pandemic norms

FDA unveils new rare disease pilot program to increase agency-sponsor communications

How academic centers are trying to keep their promising drug discoveries out of the ‘valley of death’

In the race to get type 1 patients off insulin, focus turns to cell transplants and insulin-producing stem cells

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