Stuart Schreiber (L) and Magnet Biomedicine president and CSO Brian Safina

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

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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