Plexium develops targeted protein degraders using a proprietary high-throughput cell-based screening platform to discover small molecules that induce E3 ligase–mediated proteasomal degradation. Its pipeline includes molecular glues and selective monovalent degraders intended to address limitations of PROTACs and cereblon IMiDs. Current programs highlighted for clinical acceleration include a molecular glue targeting the IKZF2 transcription factor and selective degraders of CDK2 and SMARCA2, plus other undisclosed targets. The company plans to use new funding to advance those pipeline programs toward the clinic and to further develop its TPD discovery platform. Plexium has a strategic collaboration with Amgen to discover and develop new therapies for cancer and other serious diseases. The company is led by CEO Percival Barretto-Ko and is based in San Diego, CA. Plexium uses its DELPhe platform to identify novel small molecules that redirect E3 ligases to targets or induce degradation by directly binding targets. The company is focused on discovering and developing protein degrading therapeutics directed at historically challenging drug targets. The financing will allow Plexium to accelerate advancement of targeted, monovalent degraders through preclinical development and support research into mechanisms and design principles for monovalent protein degraders. Plexium is led by CEO Swamy Vijayan and is based in San Diego, CA. The company has updated its board with new members as part of the financing, including additions from lead investors and an independent chairman with extensive biotech executive experience. Plexium develops DELPhe, a proprietary platform that enables cell-based phenotypic screening of DNA-encoded libraries in nanoliter volumes using droplet and microwell confinement for high-content readouts. The platform screens millions of small molecules simultaneously for their impact on cellular RNA and protein levels to identify compounds that modulate E3 ligases. Plexium intends to build an internal pipeline of small molecules that selectively enhance or degrade protein targets, targeting oncology and neurodegenerative diseases. Its approach seeks small molecules that reduce target protein levels in cells without requiring prior knowledge of target-binding ligands, potentially addressing traditionally ‘undruggable’ proteins. The company says proceeds from its financing will advance the DELPhe platform and support therapeutic candidate development. Plexium is headquartered in San Diego.

Total raised

$165M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2022