Shanghai-headquartered Degron Therapeutics was founded relatively recently, in April 2021, aiming to discover novel molecular glue degraders for cancer treatment and other therapeutic areas. The company spun out of the lab of cofounder Yong Cang, a professor at ShanghaiTech University, and is based at JLabs, an incubator of Johnson & Johnson. In June 2022, Degron raised $22 million in series A financing, which will be used to advance the company's GlueXplorer platform. GlueXplorer is a molecular glue-based targeted protein degradation platform aiming to accelerate the development of novel drugs for previously undruggable targets in oncology, inflammation, metabolic disease, rare diseases, and other therapeutic areas. Degron's platform uses a combination of phenotypic screening, proteomic screening, and AI to predict novel targets and accelerate compound discovery.