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Magnet Biomedicine

Boston, Massachusetts, United Statesmagnetbio.com ↗

Ownership: Private
Development stage: Preclinical

Overview

Magnet Biomedicine has not yet reported clinical results. The company’s pipeline remains in the preclinical stage, with a focus on leveraging its TrueGlue™ platform to discover novel molecular glue therapeutics for cancer and immune disorders. A major partnership with Eli Lilly was announced in February/March of 2025 to co-develop oncology molecular glues, but no human trial data are available as of this date.[2][6][7]

Therapeutic areas: OncologyImmunology
Modalities: Small molecules (molecular glues)
Industry: Biotech

Partnerships

Eli Lilly & Company (collaboration and license agreement for oncology molecular glue therapeutics; up to $40M upfront/equity investment, $1.25B+ milestones, tiered royalties)[6][7][10]

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