Magnet Biomedicine and Eli Lilly Collaborate on Molecular Glue Therapies for Cancer
Saturday, March 01, 2025
Magnet Biomedicine has entered into a collaboration and licence agreement with Eli Lilly and Company.
Magnet’s TrueGlue™ platform combines advanced screening technologies, proprietary chemical libraries, and targeted protein selection to identify molecular glues.
These molecules help proteins interact more effectively, offering a novel method for developing treatments aimed at previously hard-to-target disease-related proteins.
The partnership aims to develop and commercialise molecular glue therapies for oncology.
The collaboration will utilise Magnet’s TrueGlue™ discovery platform to identify small molecules that can bring proteins together, enhancing their interaction.
As part of the agreement, Magnet will receive upfront and near-term payments, along with an equity investment of up to $40 million.
The company could also earn more than $1.25 billion through development, regulatory, and commercial milestones, as well as tiered royalties on global sales.
This approach enables the targeting of challenging proteins linked to various diseases with significant unmet medical needs.
Source: magnetbio.com
