Neomorph secures US $1.64 billion deal with AbbVie for molecular glue degraders

Neomorph secures US 1.64 billion deal with AbbVie for molecular glue degraders

USA – Neomorph, a biotech company focused on protein degradation, has secured its third significant partnership with a major pharmaceutical player in under a year.

The focus of the collaboration will be on developing molecular glue degraders aimed at multiple targets in oncology and immunology, fields where new, more effective therapies are urgently needed.

In a licensing agreement valued at up to US $1.64 billion, AbbVie will collaborate with Neomorph to develop molecular glue degraders, a promising class of drugs that have recently gained the attention of Big Pharma.

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Last year alone, Biogen, Novartis, Takeda, and Novo Nordisk made similar deals, collectively investing over US $6 billion in this emerging field.

“Protein degraders represent a groundbreaking advancement in the field of drug discovery, and at AbbVie, we are committed to advancing this technology forward,” said Dr. Steven Elmore, AbbVie’s Vice President of Small Molecule Therapeutics and Platform Technologies.

“We are excited to collaborate with Neomorph to develop novel molecular glue degraders that could pave the way for new, effective therapies in the treatment of immune disorders and cancer.”

Founded in 2020, Neomorph quickly attracted attention with its innovative approach to tackling previously “undruggable” targets.

The company’s platform specializes in creating small molecules that can selectively degrade proteins associated with disease.

Neomorph has already struck major deals, including a US $1.45 billion partnership with Biogen and a US $1.46 billion deal with Novo Nordisk.

To support its growth, Neomorph raised US $109 million in a Series A financing round in 2020, further advancing its platform and expanding its research team.

Phil Chamberlain, Neomorph’s CEO, president, and co-founder, expressed excitement about the new collaboration with AbbVie. “At Neomorph, we have spent years building a unique molecular glue platform with broad proteome coverage,” he said.

“We are thrilled to partner with AbbVie, a global leader in delivering transformative medicines in oncology and immunology, as we aim to tackle some of the most challenging and valuable targets known.”

Molecular glue degraders are drawing increasing interest from Big Pharma, with companies such as Roche, Bristol Myers Squibb, Merck & Co., and Eisai all exploring the potential of this novel therapeutic approach in recent years.

In addition to the Neomorph deal, AbbVie also recently completed the acquisition of Nimble Therapeutics, integrating the company’s operations into AbbVie’s portfolio.

Nimble’s lead asset, an oral peptide interleukin 23 receptor (IL23R) inhibitor, is currently in preclinical development and is aimed at treating psoriasis.

The acquisition was finalized in December 2024, with AbbVie agreeing to a US $200 million cash payment, alongside potential interim funding.