Biotheryx announced it has entered into a Research Collaboration and Licence agreement with Incyte to discover and develop targeted protein degraders for novel oncology targets. Under the terms of the agreement, Biotheryx will utilise its distinctive PRODEGY platform to identify and initially develop molecular glue degraders for multiple historically undruggable oncology targets. For the initial target, Biotheryx will receive a technology access fee of $7 million plus up to an additional $6 million in potential research and development funding from Incyte for costs associated with the collaboration. This collaboration with Incyte enables to identify targeted protein degraders for novel oncology targets. Biotheryx and Incyte share a commitment to finding new, transformative treatment options for people living with cancer. The Biotheryx team has significant expertise in targeted protein degradation, one of the most promising approaches in oncology, and working together enables to develop therapies that can help improve patients' lives
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