Prox­y­gen and Mer­ck strike li­cense deal worth up to $2.55B for pro­tein degra­da­tion

The buzzy pro­tein degra­da­tion field is get­ting an­oth­er mol­e­c­u­lar glue tie-up, stick­ing the Vi­en­na biotech Prox­y­gen with Mer­ck in a mul­ti-year part­ner­ship that could be worth as much as $2.55 bil­lion.

The start­up, which al­ready has part­ner­ships with Mer­ck KGaA and Boehringer In­gel­heim, will use the deal to sup­port its team of about 30 to 40 sci­en­tists in Aus­tria, CEO Bernd Boidol told End­points News, and bankroll its own in­ter­nal pro­grams. The near­ly three-year-old com­pa­ny has main­ly been fund­ed by grants and its oth­er col­lab­o­ra­tions, he said.

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