Plexium, a biotech company focused on discovering and developing protein degrading therapeutics directed towards historically challenging drug targets, has completed a $35 million financing.

The round was led by Lux Capital and Pivotal BioVentures, with participation from The Column Group, DCVC Bio and other current investors.

This financing, which is an extension of the company's Series A from October 2019, raises Plexium's Series A to $63M and will allow the company to accelerate the advancement of targeted, monovalent degraders through preclinical development, while also supporting research efforts aimed at understanding mechanisms and design principles for monovalent protein degraders.