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Proxygen Announces Formation of Board of Directors

Proxygen
Proxygen

Accomplished Life Science Veterans with Broad Ranging Experience will Support Company’s Pioneering Work in the Discovery and Development of Novel Molecular Glue Degraders

VIENNA, Austria, March 15, 2023 (GLOBE NEWSWIRE) -- Proxygen, a leader in the discovery and development of molecular glue degraders, today announced the formation of the company’s board of directors. The newly appointed board of independent directors, which is comprised of highly regarded leaders within their respective life science industry disciplines, will provide oversight and strategic guidance to Proxygen as the company works to advance its internal molecular glue degrader programs toward clinical development. In addition to its internal programs, Proxygen is also actively engaged in strategic research collaboration and license agreements with Boehringer Ingelheim and Merck KGaA designed to jointly identify and develop novel molecular glue degraders.

“Since our founding in 2020, Proxygen has made great strides in advancing pioneering work in the field of molecular glue degraders, particularly in developing a proprietary discovery engine capable of addressing challenges related to molecular glue degrader identification. Our unique platform has enabled significant progress for both our internal programs, as well as strategic collaborations,” said Bernd Boidol, Ph.D., chief executive officer of Proxygen. “As we work to continue this momentum, we are excited to have assembled a board of directors comprised of accomplished life science industry veterans with such broad ranging expertise. We look forward to leveraging their strategic guidance as we take the step forward in our maturation as a leading biotech company.”

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The members of Proxygen’s newly formed board of directors include:

Nina Kjellson, General Partner, Canaan

Nina is a highly experienced biotech investor and entrepreneur who focuses on investing in biopharma and digital health companies that serve unmet therapeutic needs. She is a board member of several biotech companies both private and publicly listed and a vocal advocate for women entrepreneurs and investors. Her expertise and experience allow her to quickly identify and support promising biotech companies with high growth and returns potential.

Reinhard Kandera, Chief Financial Officer, Hookipa

Reinhard is a seasoned finance professional with over 25 years of experience in banking and the healthcare industry. He has a strong track record of driving growth, building organizations and transforming businesses through strategic thinking and creative solutions. Throughout his career as a biotech executive, he has managed numerous private and public equity raises, including initial public offerings, as well as debt financings, M&A transactions and strategic partnerships.

Constanze Ulmer-Eilfort, Ph.D., Partner, PSP Peters, Schönberger & Partner

Constanze is a highly accomplished attorney who has dedicated her career to helping clients navigate the complex world of intellectual property and licensing. With over 30 years of experience, she has become a leading expert in the life sciences industry and is known for her innovative approach to negotiating transactions and solving challenging IP issues. A member of the bar in both Germany and New York,  Constanze’s interest lies in sustainability (ESG), and the development of purpose-led, high performing leaders and organizations.

Giulio Superti-Furga, Ph.D., Scientific Director and CEO of CeMM, the Research Center for Molecular Medicine of the Austrian Academy of Sciences

A co-founder of Proxygen, Giulio is a highly respected scientist and leader in the fields of systems biology and personalized medicine. Throughout his career, he has made significant contributions to the fields of gene regulation and pharmacology and has published numerous papers in prestigious scientific journals. In addition to his scientific work, he also has extensive experience in building and leading scientific organizations, managing large projects and diverse teams in parallel, and connecting research institutions around the globe.

Molecular glue degraders redirect the cell’s own quality control machinery towards disease-causing proteins, inducing their selective and complete elimination. Due to the ability of molecular glue degraders to modulate protein classes unamenable to traditional drug discovery approaches, these molecules hold the promise of unlocking a large proportion of the undruggable target space and delivering innovative therapies for diseases with high medical need. However, the lack of scalable discovery strategies has so far hindered the full exploitation of the clinical potential of molecular glue degraders.

By streamlining and fully integrating cutting-edge genomic, proteomic, and biochemical technologies, Proxygen has successfully developed a highly versatile glue degrader discovery engine. The ligase-agnostic screening approach enables the specific and unbiased identification of molecular glue degraders against difficult-to-drug or completely undruggable targets at large scale. The company has generated expansive knowledge and data in the discovery and chemical optimization of degrader molecules, positioning it as a pioneer in this novel modality.

About Proxygen
Proxygen is a leader in the discovery and development of molecular glue degraders against targets of unmet medical need across various indications. While advancing its internal programs towards clinical development, the company also maintains various strategic partnerships, including collaborations with Boehringer Ingelheim and Merck KGaA, to co-create synergies along the drug development pipeline. With its headquarters and laboratory operations in Vienna, Austria, Proxygen employs talent both locally and remotely all over Europe. Learn more at: www.proxygen.com.


CONTACT: Contacts: Proxygen Bernd Boidol, Ph.D. Chief Executive Officer management@proxygen.com Vida Strategic Partners (on behalf of Proxygen) Tim Brons (Media) 415-675-7402 tbrons@vidasp.com