The collaboration incorporates Plexium's comprehensive, targeted protein degradation platform, powered by a proprietary, high-throughput, cell-based screening technology that enables the discovery of novel molecular glue therapies. The collaboration will initially focus on two programs, with Amgen holding options to add additional programs.

Plexium is eligible to receive over $500 million in success-based target access, preclinical, clinical, regulatory, and commercial milestones as well as tiered, single-digit royalty payments, if all options are exercised. Amgen has a commercial license for each program that advances to a predefined preclinical stage of development. Amgen will be responsible for global development and commercialization.

Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing, and delivering innovative human therapeutics. Plexium is a next-generation, targeted protein degradation company seeking to discover a wide range of monovalent, targeted protein degraders that address the limitations of proteolysis-targeting chimeras and cereblon immunomodulatory imide drugs.