It is not very common to hear venture capital firms back competitors in the same week. It happened yesterday with Nurix announcing a USD 120 million backing yesterday, immediately after Kymera had grabbed an almost similar amount earlier this week. This does tell us something about the field of Targeted Protein Degradation! Read on.
How crowded is the field of Targeted Protein Degradation?
The current pipeline features over 85 small molecule protein degraders that are being evaluated for multiple disease indications. A total of USD 3.5 billion has already been poured in by venture capital and strategic investors. And the work that we have done in this space tells us that 100+ partnerships, primarily for R&D purposes, have already been inked.
Can we measure the clinical activity?
Yes, we believe over 5500 patients are already enrolled in clinical trials worldwide. North America is the hub with over 60% of the patient registrations. It is also important to highlight that within the US, California, Massachusetts, New York, and Connecticut, have emerged as the most important regions where multiple developers are presently located
Are the Big Pharma missing out?
Start-ups, such as Nurix and Kymera, are driving the show so far. THere are several other small companies that are trying to drive home the first mover advantage. In addition, we know of at least 10 big pharma companies have already taken the initiatives in this space. These include Genentech, AbbVie, Boehringer and Novartis.
What is the Size of the Prize?
There are no definitive numbers. However, our analysis suggests that it is likely to be huge in the long term. Specifically, the revenues generating from licensing the technologies, designed for developing targeted protein degraders will be in multiples of billion dollars. Technologies that are intended for use in oncological disorders currently capture a relatively higher market share. By 2030, this domain is likely to be driven by neurodegenerative disorders (such as Alzheimer’s disease and Parkinson’s disease).
If you are a fan of novel opportunities, you must learn more about this field. In fact, I would recommend you to also view one of our other recent blogs, authored by a fellow colleague.