Sibylla, Ono team up on protein degraders

Italy's Sibylla Biotech and Japan's Ono Pharmaceutical are collaborating on developing protein-degrading drugs for central nervous system disorders. The drugs are small molecules that degrade proteins by interfering with their ability to fold. The companies are not disclosing their therapeutic targets but allude to the molecules' potential to target historically "undruggable" proteins that lack suitable binding sites in their natural state. Ono will pay Sibylla an undisclosed amount that could reach "three-digit millions" of dollars.