Another protein degradation biotech emerges, with the promise of a new approach from an old hand

The money keeps pouring in for protein degradation.

A field that six years ago had the financial equivalent of tumbleweed is now flush with cash. Last month, a pair of ?biotechs, now backed with big pharma and big biotech deals, landed a total of $222 million in funding on consecutive days. And in October, Plexium launched out of San Diego with $28 million in Series A financing and a promise for a different approach to a barely adult field.

The newest addition comes out of Scotland and a former fellow of the field?s godfather, Alessio Ciulli. Ciulli has for the last couple years been helping i