BPMC - Blueprint Proteovant forge agreement on protein degrader therapies

Blueprint Medicines (NASDAQ:BPMC) and Proteovant Therapeutics will collaborate on protein degrader therapies and advance up to two candidates into development. The collaboration will utilize Proteovant's artificial intelligence-assisted targeted protein degradation platform and Blueprint Medicine's (BPMC) precision medicine experience. The companies say that targeted protein degradation "harnesses the body's natural protein disposal system and offers the potential to develop new medicines that target historically difficult-to-drug proteins that play an important role in causing serious diseases." For the first potential candidate out of the collaboration, Blueprint (BPMC) has the exclusive right to develop and commercialize it. For the second one, Proteovant has co-development and co-commercialization rights. Terms of the agreement call for a $20M upfront payment to Proteovant. The company is eligible to receive an additional $632M in milestone payments as well as tiered royalties from mid- to high-single digits on net sales on the first two program targets. Blueprint (BPMC) is

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Blueprint, Proteovant forge agreement on protein degrader therapies