Degron Therapeutics, a targeted protein degradation company that operates out of Shanghai, China, has secured additional capital to fund its lead oncology asset and expand its preclinical immunology pipeline. The Series A extension closed at USD 40 million, bringing total capital raised to USD 95 million.
The 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. Proceeds are earmarked for continued clinical development of the company's lead asset, advancement of two immunology programs to development candidate stage, and ongoing expansion of the proprietary GlueXplorer platform.
Degron's lead program, DEG6498, is a first-in-class oral small-molecule molecular glue degrader targeting HuR (Human antigen R), an RNA-binding protein with roles in cancer, inflammation, and metabolic disease. The compound entered the clinic in late 2025, with the first patient dosed in November, and is currently in dose escalation in a Phase I study in patients with advanced solid tumors. HuR has historically been considered undruggable by conventional small-molecule approaches, and DEG6498 works by inducing an interaction between the E3 ubiquitin ligase component cereblon and HuR, directing the protein for targeted degradation. Degron states it has secured IND clearances in both the US and China for its lead program.
Beyond DEG6498, the company's pipeline spans oncology, inflammation, metabolic disorders, and rare diseases. Two immunology programs are being advanced toward investigational new drug filings, with development candidate selection targeted for 2026.