Amgen Forges Drug Discovery Collaboration With Plexium

Amgen and biotech Plexium have inked a research collaboration and license agreement potentially worth $500 million.

The multi-year collaboration will support the discovery of novel molecular glue therapeutics using Plexium’s targeted protein degradation platform to develop new therapeutic agents in cancer and other serious diseases.

The collaboration will initially focus on two programs, with Amgen holding options to add more. Via the deal, Plexium is eligible to receive more than $500 million in milestones, as well as tiered royalty payments.