CHINA – Degron Therapeutics, a San Diego, CA and Shanghai, China-based biotechnology company, raised $22M in Series A funding.
The round was led by Med-Fine Capital with participation from Dyee Capital, Baidu Venture, NeuX Capital, CO-WIN Ventures and 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 has scientific and clinical research experience as well as an extensive track record of investments across multiple segments and companies at different lifecycle stages.The company intends to use the funds to advance the GlueXplorer platform. 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. It uses a combination of phenotypic screening, proteomic screening, and artificial intelligence (AI) to predict novel targets and accelerate 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 programs that have entered into the lead-optimization phase, including a first-in-class target with essential roles in a broad range of cancers and immune diseases.10/06/2022
