Ranok Therapeutics Announces Agreement with Pfizer on Targeted Protein Degradation

Ranok Therapeutics (Hangzhou) Co. Ltd., an emerging biopharmaceutical company focused on developing breakthrough therapies for cancer and other serious diseases, today announced an agreement with Pfizer Inc. to apply and evaluate Ranok's CHAMPtm platform technology on an undisclosed cancer target. Terms of the agreement were not disclosed.

Ranok has developed a proprietary and innovative targeted protein degradation (TPD) platform technology, CHAMPtm (Chaperone-mediated Protein Degradation), which leverages Ranok's founders' expertise in protein homeostasis to take advantage of the cellular chaperone network, potentially improving drug safety and efficacy due to selective targeting of disease tissues.

"We are very pleased to work with Pfizer to explore the application of CHAMPtm to an emerging cancer drug target," said Kevin P. Foley, Ph.D., Co-founder and Chief Scientific Officer of Ranok Therapeutics. "This represents our first pharmaceutical company research relationship and is an important step forward in establishing CHAMPtm as a preferred technology in the rapidly-growing field of targeted protein degradation. We look forward to uncovering new benefits of CHAMPtm through this research."

This evaluation agreement builds upon Ranok's recent momentum, including its $40 million Series B financing in August 2021.

About Ranok Therapeutics

Ranok is a privately held, emerging biopharmaceutical company that is pioneering its proprietary CHAMPtm platform technology, an innovative approach to targeted protein degradation (TPD) for the discovery and development of novel therapeutics. Ranok was founded by a leadership team composed of industry veterans from both Chinese and American biotech and pharmaceutical companies and is based in two of the world's leading centers of innovation and medical research: Hangzhou China and Greater Boston, Massachusetts. By bringing together cutting-edge medical research from both China and the United States, Ranok's goal is to create transformative medicines to benefit patients suffering from cancer and other serious diseases around the world. For more information, please visit the company website at www.ranoktherapeutics.com or follow us at LinkedIn and on Twitter @RanokTx.

About Ranok's CHAMPtm platform

Chaperone-mediated Protein Degradation/Degrader (CHAMPtm) technology is based on our founders' extensive backgrounds in protein homeostasis research. This technology takes advantage of the cellular chaperone network, distinguishing it from other targeted protein degradation (TPD) approaches. CHAMPtm has a number of unique advantages, including improved safety due to the selective targeting of tumors. Our proprietary R&D engine combines deep biological insight and chemistry expertise to iteratively discover and test new leads, rapidly identifying and advancing optimal development candidates for a variety of important disease targets.