SEED Therapeutics (SEED) Enters into Strategic Research Collaboration with Eisai Co., Ltd. to Discover and Develop Novel Molecular Glue Degraders for Neurodegeneration and Oncology Indications

Core Insights - SEED Therapeutics has entered a strategic research collaboration with Eisai to develop novel molecular glue degraders targeting neurodegeneration and oncology [1][2] - The collaboration includes financial terms that allow SEED to receive up to $1.5 billion in payments and tiered royalties [2] - SEED has initiated Series A-3 financing, raising$24 million in the first close, with a second close planned for Q4 2024 [3] Collaboration Details - SEED will lead preclinical discovery activities, while Eisai will have exclusive rights to develop and commercialize the resulting compounds [2] - This collaboration follows an ongoing partnership between SEED and Eli Lilly for the development of molecular glue degraders [2] Series A-3 Financing - The Series A-3 financing aims to accelerate SEED's clinical development in cancer and neurodegeneration, expanding its TPD platform and pipeline [3] - SEED plans to advance its oral RBM39 Degrader into Phase 1 testing in 2025 and its Tau degrader program for Alzheimer's into in vivo efficacy testing in 2025, with an IND submission in 2026 [3] Company Background - SEED Therapeutics focuses on developing molecular glues and targeted protein degradation therapies for previously undruggable targets [6] - The company has a growing pipeline of drug candidates in neurodegeneration and oncology, supported by collaborations with Eli Lilly and Eisai [6][5] Eisai's Role - Eisai is recognized for its commitment to human health care and aims to address unmet medical needs in neurology and oncology [7] - The collaboration with SEED is seen as a unique opportunity to leverage molecular glue technology in both oncology and neurology [4]