On the same week it expanded a collaboration with MSD, China-based Degron Therapeutics raised USD 40 million in a Series A extension round to advance its pipeline of molecular glue degraders. The round was led by Lapam Capital, with participation from GTJA Investment, Fortune VC, Kinghall Capital, GF Xinde, Hongye Capital, Guofang Capital, and ApicHope. The funds will support the continued clinical development of the company's lead asset, DEG6498, a first-in-class oral degrader targeting the HuR RNA-binding protein, which is currently in a Phase I study for advanced solid tumours. The capital will also be used to progress immunology programs to the development candidate stage and to expand the company's proprietary GlueXplorer discovery platform.

Founded in 2021, Degron has built a library of over 10,000 structurally diverse molecular glue compounds. The company is actively pursuing both internal pipeline development and external partnerships, including existing collaborations with Takeda and, as announced earlier this week, an expanded strategic partnership with MSD.

According to PharmCube's MedAlpha® database, the recent financing brings Degron's total funds raised to USD 92 million. Click here to request a free trial for MedAlpha®.