SEED Therapeutics Partners with Eisai to Develop Molecular Glue Degraders for Neurodegeneration and Oncology

SEED Therapeutics Inc., a biotechnology firm based in King of Prussia, PA, has announced a strategic research collaboration with Eisai Co., Ltd. This collaboration aims to discover, develop, and commercialize new molecular glue degraders targeting proteins associated with neurodegeneration and oncology. The announcement coincides with a Series A-3 financing round led by Eisai.

SEED Therapeutics, known for its focus on Molecular Glues for targeted protein degradation (TPD) of disease-causing proteins, is poised to advance its research and development efforts through this collaboration. Eisai, a global pharmaceutical company, will bring its expertise and resources to the partnership, enhancing the potential for groundbreaking discoveries in both neurodegenerative diseases and cancer treatments.

The collaboration between SEED and Eisai is part of SEED's broader strategy to leverage strategic partnerships for advancing its TPD platform. Previously, SEED entered into a similar collaboration with Eli Lilly to develop Molecular Glue Degraders for undisclosed targets. These partnerships are designed to accelerate the discovery and development of new therapies for challenging medical conditions.

In addition to the research collaboration, SEED has secured a Series A-3 financing round, with the first close amounting to $24 million led by Eisai. The second close is anticipated in the fourth quarter of 2024. This funding aims to expedite SEED's clinical development programs in cancer and neurodegeneration, expand its TPD platform, and bolster its pipeline. The financing will also complement previous investments from Eli Lilly and BeyondSpring.

Dr. Takashi Owa, Eisai's Chief Scientific Officer, praised SEED's cutting-edge technology platform, emphasizing its potential to discover molecular-glue target protein degraders. He noted the success of lenalidomide, an anti-myeloma drug from the molecular-glue class, in oncology and expressed optimism about utilizing this modality in neurology through the collaboration with SEED. Dr. Owa highlighted the unique and differentiated nature of the partnership and looked forward to significant progress benefiting society.

Dr. Lan Huang, Co-Founder, Chairman, and CEO of SEED, expressed honor in collaborating with Eisai, a leading drug development company. She emphasized the potential to create impactful medicines for difficult-to-target conditions and underscored the strength of SEED's Molecular Glue discovery platform in neurodegenerative diseases. Through partnerships with both Eli Lilly and Eisai, SEED aims to advance treatments for neurodegeneration, including approved therapies for Alzheimer's disease.

Huang also highlighted the scalability and versatility of SEED's TPD platform, demonstrated through multiple pipeline programs across various therapeutic areas. She expressed confidence in the company's ability to advance high-profile programs into clinical stages, thereby creating significant value for patients and shareholders. The Series A-3 financing and non-dilutive funding from R&D milestone payments by Eli Lilly and Eisai position SEED to make substantial progress in its mission.

SEED Therapeutics is dedicated to harnessing and engineering molecular glues to address previously undruggable targets. The company's innovative approach aims to develop novel protein degradation therapeutics for diseases with limited treatment options. SEED's collaborations and investments from industry leaders like Eli Lilly and Eisai support its growing pipeline of drug candidates in neurodegeneration and oncology.

Eisai's corporate philosophy centers on prioritizing patients and improving healthcare outcomes. With a global network of research and development facilities, manufacturing sites, and marketing subsidiaries, Eisai is committed to addressing unmet medical needs in neurology, oncology, and global health.

BeyondSpring, another key investor in SEED's TPD technology, is a clinical-stage biopharmaceutical company dedicated to developing therapies for patients with high unmet medical needs. BeyondSpring's lead asset, Plinabulin, is in late-stage clinical development as an anti-cancer agent and demonstrates the potential of SEED's technology in advancing innovative treatments.