Fresh off Amgen deal, Plexium raises $102M for degrader platform

It's been a busy month for Plexium, landing an Amgen deal and $102 million in a funding round within three weeks, reflecting confidence in the company's platform, and increasing interest in non-chimeric protein degraders.

On Wednesday, Plexium Inc. announced an oversubscribed $102 million financing round led by BVF Partners and Column Group-affiliated TCG Crossover to accelerate its targeted protein degrader platform and pipeline. The undisclosed venture round came on the heels of a Feb. 2 a partnership with Amgen Inc. (NASDAQ:AMGN) to develop molecular glue degraders, further diversifying the larger biotech’s Induced Proximity Platform...