Fierce Biotech Names Proxygen a “Fierce 15” Biotech Company of 2023

VIENNA, Austria, Aug. 28, 2023 (GLOBE NEWSWIRE) — Proxygen, a leader in the discovery and development of molecular glue degraders, today announced that Fierce Biotech has named it as one of 2023’s “Fierce 15” biotechnology companies. The annual special report features the most innovative and promising early-stage biotechnology companies in the industry.

“It is an incredible honor to be recognized as one of the Fierce 15 biotech companies for 2023,” said Bernd Boidol, Ph.D., chief executive officer of Proxygen. “We have seen Proxygen going through an outstandingly successful development over the last three years. Our team of world-class scientists combined with a unique platform has enabled significant progress for both, our internal programs and strategic collaborations. We are excited to see these efforts coming to fruition.”

Molecular glue degraders redirect the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. However, the lack of scalable discovery strategies has so far hindered the full exploitation of the clinical potential of molecular glue degraders.

By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. The unbiased screening approach enables the specific identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality.

“For the past 21 years, we have assessed hundreds of early-stage companies for inclusion in the ‘Fierce 15’ special report. To curate this list, we consider a diverse range of factors, including the robustness of their technology, partnerships, venture support and their competitive positioning within the market,” said Ayla Ellison, Editor-in-Chief, Fierce Life Sciences and Healthcare. “Our special report celebrates innovation and creativity in the face of intense competition.”

About Fierce Biotech
Fierce Biotech is the biotech industry’s daily monitor, providing the latest news, articles, and resources related to clinical trials, drug discovery, FDA approval, FDA regulation, patent news, pharma news, biotech company news and more. More than 300,000 top biotech professionals rely on Fierce Biotech for an insider briefing on the day’s top stories.

About Proxygen
Proxygen is a leader in the discovery and development of molecular glue degraders. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space. Proxygen has developed a highly versatile, proprietary discovery engine supporting the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Boehringer Ingelheim, Merck KGaA, and Merck & Co Inc. (known as MSD outside the U.S. and Canada) to co-create synergies along the drug development pipeline.

Media Contact
Proxygen
Bernd Boidol, Ph.D.
Chief Executive Officer
management@proxygen.com