Degron Therapeutics, a San Diego, CA and Shanghai, China-based biotechnology company, raised $22M in Series A funding.
Med-Fine Capital led the round with participation from Dyee Capital and Baidu Venture, NeuX Capitals, CO-WIN Ventures, Yuanbio Venture Capital. As part of the financing, Jing Yu, Ph.D., partner of Med-Fine Capital, joins Degron’s board of directors. Dr. Yu is a scientist and clinician with extensive experience in clinical and scientific research. She also has a track record of investing across multiple sectors and companies at different stages of their lifecycle.
The company intends use the funds to further develop the GlueXplorer technology.
Led by CEO Lily Zou, Degron Therapeutics is a biotechnology company advancing human health by developing novel medicines using its molecular glue-based targeted protein degradation drug discovery platform GlueXplorer. The platform has created an IP-protected compound library and screening system to accelerate the development of novel drugs for previously undruggable targets in oncology, inflammation, metabolic disease, rare diseases, and other therapeutic areas. The platform combines phenotypic, proteomic, and artificial intelligence (AI), to help predict new targets and speed up compound discovery.
Founded in 2021, Degron Therapeutics builds on research and technologies developed in the laboratory of ShanghaiTech University professor and company co-founder Yong Cang, Ph.D. Beginning with a novel, patented scaffold, the company has created more than 60 novel diverse cores and 6,000 compounds, of which almost all demonstrate binding to Cereblon (CBRN), an E3 ligase that promotes protein ubiquitination and degradation.
The company currently has three pipeline programmes that are in the lead-optimization stage. This includes a first-in class target with critical roles in a wide range of cancers.