Pro­tein degra­da­tion field turns red hot as Bris­tol My­ers signs up for an­oth­er multi­bil­lion-dol­lar pact

A new sea­son of pro­tein degra­da­tion deals is up­on us.

Just days af­ter Ru­pert Vessey an­ted up on a $1.55 bil­lion deal to ad­vance new dis­cov­ery work on pro­tein ther­a­peu­tic de­graders with the Scot­tish biotech Am­phista, he’s jumped back with a $5 bil­lion pact on an­oth­er pro­tein degra­da­tion ef­fort with the de­vel­op­ers at Evotec in Eu­rope as the field con­tin­ues to heat up with mul­ti­ple al­liances.

This time Vessey and his crew are com­ing with a hefty $200 mil­lion up­front to ex­pand on a deal that dates back to 2018, look­ing to build a pipeline of mol­e­c­u­lar glue de­graders — one of the pri­ma­ry ap­proach­es in the field.

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