Eisai and Seed Therapeutics yesterday announced a potential $1.5B+ collaboration to discover, develop, and commercialize novel molecular glue degraders for multiple undisclosed neurodegeneration and oncology targets. The deal combines Seed Tx’s focus on preclinical discovery of such targets and Eisai’s expertise in neurodegeneration and cancer. Seed Tx’s molecular glues attack protein targets, the company is focused on targeting previously believed to be “undruggable.”
Takashi Owa, Eisai’s chief scientific officer said, “SEED has a cutting-edge technology platform to discover a class of molecular-glue target protein degraders, one of the most highlighted modalities in modern drug discovery. While the anti-myeloma drug lenalidomide from the molecular-glue class has been successful in the oncology field, our research collaboration will also focus on utilizing this modality in the neurology field.”
Eisai will have exclusive rights to develop and commercialize compounds derived from the collaboration Seed Tx will receive upfront and milestone payments of up to $1.5 billion plus tiered royalties. As part of the collaboration:
- Seed Tx will advance its internal, potentially “best-in-class” oral RBM39 Degrader into Phase I safety/efficacy testing beginning in 2025 for rationally selected, biomarker-driven cancer indications. The program will build on Eisai’s pioneering discovery of a class of RBM39 degraders over three decades.
- Seed Tx will also progress its internal Tau degrader program (for Alzheimer’s disease) into in vivo efficacy in 2025, and IND in 2026.
- Seed Tx will scale its proprietary TPD platform development. With global neurodegeneration drug development leaders Eisai and Eli Lilly as investors and research collaborators, Seed Tx will extend its research and thought leadership in the discovery and development of oral Molecular Glues for the treatment of neurodegenerative diseases.
Seed Tx is focused on harnessing and engineering “molecular glues” and TPD to attack previously undruggable targets. The company has developed a growing pipeline of novel drug candidates in neurodegeneration and oncology approaching clinical development
Concurrently to the deal announced yesterday, Seed Tx has launched Series A-3 financing with a first close of $24 million from investors led by Eisai. A second close is targeted for Q4 2024, Seed Tx’s Series A-3 financing has a first close of $24 million from investors led by Eisai. A second close is targeted for Q4 2024.The Series A-3 financing is expected to further accelerate SEED’s clinical development of internal proprietary programs in cancer and in neurodegeneration, expand its TPD platform and pipeline, and supplement prior investments from Eli Lilly and BeyondSpring.
Lan Huang, Seed Tx’s Co-Founder, Chairman, and CEO said, “Looking ahead, Seed’s unique Molecular Glue discovery platform on neurodegenerative disease will be further strengthened through our collaborations with both Eli Lilly and Eisai (under separate collaboration agreements), two global pioneers in the timely development of treatments for neurodegeneration, including approved therapies for Alzheimer’s disease.”
He added that, “Finally, having demonstrated the scalability and versatility of our TPD platform through the success of multiple pipeline programs across various key therapeutic indications, our Series A-3 financing and non-dilutive funding of R&D milestone payments from both Eli Lilly and Eisai, Seed is well-positioned to advance our internal high-profile programs into clinics, and to create great value for patients and our shareholders.”
