Proxygen, averaging a new collab every 10 months, sticks $2.5B molecular glue deal with Merck

Proxygen, averaging a new collab every 10 months, sticks $2.5B molecular glue deal with Merck

Source: 
Fierce Biotech
snippet: 

Proxygen’s molecular glue ambitions are continuing to take shape as the Austrian biotech sticks together a third licensing deal in less than three years.

The company has signed a licensing agreement with Merck & Co. worth more than $2.55 billion in biobucks, according to an announcement Wednesday. How much the biotech is receiving upfront, or how many targets it is offering the U.S. Big Pharma, remains undisclosed.