Seeking Next-Generation Therapeutic Platforms and Partnerships

We are witnessing another turning point in what’s possible in drug discovery.

As computation, chemistry, and biology converge, the line between undruggable and druggable targets continues to blur. Recent breakthroughs illustrate this trend.

Hard-to-drug, genetically validated targets

• Astellas’ ASP3082, a KRAS G12D-selective degrader, has shown tumor regression signals in early trials.
  

• PMV Pharma’s PC14586, the first p53 Y220C reactivator, continues to validate precision small-molecule design.
  

The targeted protein degradation market is expected to grow from USD 0.5 billion in 2024 to over USD 1.5 billion in 2030, with a CAGR above 20%.

The Next Frontier: Extra-Hepatic Genetic Delivery

Following the success of hepatic LNP delivery, extra-hepatic RNA and gene delivery is rapidly becoming the next frontier.

• Rona Therapeutics is developing APOLLO™ , a GalNAc-free siRNA system achieving kidney and muscle distribution.

• eTheRNA’s bio-reducible LNP platform targets Bio-Reducible LNP platform by demonstrating highly efficient in vivo extra-hepatic delivery of mRNA to Bone Marrow Stem Cells and T cells

• Wave Life Sciences’ PRISM® Platform can deliver to a variety of cell types, including neurons in the central nervous system, muscle cells, and more.
  

According to Nova One Advisor, the global RNA therapeutics market size is expected to be worth around 26.13 billion by 2034, increasing from USD 8.55 billion in 2025, representing a healthy CAGR of 13.22% from 2025 to 2034 ().

Conditionally Active Biologics: Precision Through Control

Conditionally binding antibodies and ADCs activate only under specific micro-environmental conditions (e.g., low pH, hypoxia), enhancing therapeutic index and safety.

• BioAtla’s CAB™ platform enables ADC activation in acidic tumor environments, with Ozuriftamab Vedotin (CAB-ROR2-ADC) now in clinical testing.

• Sensei Biotherapeutics’ SNS-101, a pH-sensitive anti-VISTA antibody, exemplifies controlled immune modulation.
  

These platforms represent the next wave of biologic differentiation, integrating chemistry, structure, and immunology.

Peptides and Oral Biologics Breaking Barriers

Cell-permeable peptides are redefining intracellular targeting:

• Aileron Therapeutics’ sulanemadlin (ALRN-6924) — first-in-class dual MDMX/MDM2 inhibitor peptide — remains a landmark in this modality.

• Stealth BioTherapeutics’ elamipretide penetrates mitochondria to treat ophthalmic diseases entailing mitochondrial dysfunction.

Meanwhile, oral biologics are approaching clinical reality:

• Merck’s enlicitide (MK-0616), a novel macrocyclic peptide that binds to PCSK9 and inhibits the interaction of PCSK9 with LDL receptors.,met all primary and key secondary endpoints in phase III.

• Johnson & Johnson’s icotrokinra (JNJ-2113), a first-in-class oral IL-23 peptide, demonstrated strong efficacy in psoriasis.

• Lilly’s orforglipron, an oral GLP-1 receptor agonist, achieved average weight loss of 27 lbs in obese adults.
  

The oral proteins and peptides market is expected to exceed USD 30 billion by 2034, reshaping chronic and metabolic disease treatment.

Partnership & Collaboration

ELK92 is currently engaging with partners and project owners in the following categories:

• Verified functional chemical leads with optimizable properties

• RNA / gene-therapy platforms demonstrating extra-hepatic delivery

• Conditionally activated biologics and antibodies

• Stable, soluble, cell-permeable peptides

• Orally bioavailable large-molecule platforms
  
  

The firm provides strategic advisory across R&D assessment, partnering, and fundraising, bridging science and commercialization.

“Our mission is to help great science move faster — and further.”
— The ELK92 Team