Degron Therapeutics announced the closing of a $40 million Series A Extension financing round to support the continued clinical development of its molecular glue degrader pipeline. The financing round was led by LAPAM CAPITAL, with participation from GTJA Investment Group, Fortune Capital, CSPC & Growth, ApicHope, GF Xinde, CASSTAR, Kinghall Ventures, and GAGE Capital. The latest financing brings the total capital raised by Degron Therapeutics to $95 million.
The proceeds will support advancement of the company’s lead clinical-stage program, DEG6498, a first-in-class HuR molecular glue degrader targeting previously undruggable RNA-binding proteins associated with cancer, inflammation, and metabolic disorders. The funding will also support the progression of two immunology programs toward IND-stage development and the continued expansion of Degron’s proprietary GlueXplorer® molecular glue discovery platform.
DEG6498 entered the clinic in late 2025, with the first patient dosed in November. The program is currently in dose escalation in a Phase 1 clinical study involving patients with advanced solid tumors. According to the company, the therapy is designed to degrade Human antigen R (HuR), an RNA-binding protein that has historically been difficult to target using conventional small-molecule approaches.
Lily Zou said the financing validates investor confidence in the company’s molecular glue degrader platform and clinical strategy. Zou noted that the new capital will help accelerate both Degron’s clinical-stage and preclinical pipeline while strengthening the company’s proprietary discovery technology.
The company also said the financing will support advancing two immunology-focused programs to the development candidate stage in 2026 while continuing to expand the GlueXplorer® platform, which has generated more than 10,000 structurally differentiated molecular glue degrader compounds spanning more than 150 novel non-IMiDs cores.
Founded in 2021 by Yong Cang, Degron Therapeutics focuses on molecular glue-based targeted protein degradation therapies designed to address historically undruggable proteins. The company’s pipeline spans oncology, inflammation, metabolic disorders, and rare diseases. In addition to internal drug development efforts, Degron maintains partnerships with pharmaceutical companies, including Takeda.
Regarding the investment, Zhihua Yu said targeted protein degradation remains an important investment area for the firm and highlighted Degron’s platform capabilities in identifying novel targets and compounds for historically undruggable proteins.
KEY QUOTES:
“We are thrilled to welcome this distinguished group of investors who share our vision for transforming the treatment of serious diseases with high unmet need through our innovative MGD platform. This financing will support the continued advancement of our clinical-stage and preclinical pipeline and further strengthen our technology platform. The strong interest from leading healthcare investors underscores confidence in our approach to developing novel MGDs. With our first-in-class HuR program now advancing in the clinic and two additional immunology programs approaching pre-clinical development, we are making significant progress toward our goal of delivering breakthrough therapies to improve patients’ lives.”
Lily Zou, Ph.D., Co-founder and CEO, Degron Therapeutics
“We are pleased to lead this financing round for Degron. Targeted protein degradation remains a key focus for us, and Degron’s proprietary molecular glue platform, built on deep expertise and a strong data foundation, demonstrates robust capabilities in discovering novel targets and compounds, including for historically undruggable targets. We are impressed by the team’s strengths across R&D, translational development, and business development. With this financing, we believe Degron is well-positioned to advance its pipeline efficiently and generate compelling clinical data to benefit patients.”
Zhihua Yu, Chairman, Lapam Capital
