Molecular glues Market Outlook 2026–2036: Growth Drivers, Key Companies, Strategic Developments & Adoption Forecast — A Meticulous Next™ Foresight Brief

This Meticulous Next™ brief examines molecular glues, small molecules that bring two proteins together, most often a disease protein and a ligase that tags it for destruction. It tests how fast rational glue design and large pharmaceutical collaborations extend the class beyond the immunomodulatory drugs of multiple myeloma to new targets and diseases, and which participants capture value among developers, large firms and suppliers.

The established base is large. Thalidomide and its analogs are the only molecular glues approved by the FDA so far, and lenalidomide alone was reported to have sales above USD 6 billion in 2023. Bristol Myers Squibb holds three late-stage glues, mezigdomide, iberdomide and golcadomide, and reported positive Phase 3 results for mezigdomide in the SUCCESSOR-2 trial in relapsed or refractory multiple myeloma in March 2026. The conclusion is that the class already earns at scale in blood cancer, and that new generation cereblon modulators are the first test of whether glues can be extended beyond the original drugs.

New targets are moving into the clinic. Monte Rosa licensed VAV1 directed glues, including MRT-6160, to Novartis, with eligibility for up to USD 2.1 billion in milestones and 30% of US profits and losses, and a Phase 1 study showed VAV1 degradation above 90% in peripheral blood T cells. A Phase 2 study in Sjögren disease started in August 2026, and a Phase 2a/b study in psoriatic arthritis announced on 28 October 2026 triggered a USD 37.5 million milestone payment. The conclusion is that immune disease is the first non-cancer area where a new glue has reached Phase 2.

Large firms continue to pay for glue platforms. AbbVie agreed in January 2025 to a deal of up to USD 1.64 billion with Neomorph, Eli Lilly agreed in February 2025 to a collaboration of up to USD 1.29 billion with Magnet Biomedicine, and in 2024 Biogen, Pfizer, Eisai and Novartis signed glue deals of USD 1.45 billion to USD 2.25 billion. The conclusion is that rational design platforms are valued ahead of clinical proof, which raises the number of programmes entering Phase 1 and Phase 2.

The brief treats molecular glues as an accelerating category with a ten year horizon to 2036. It identifies which diseases, regions and operators scale first and what each means for developers, large pharmaceutical firms and suppliers.

It is a focused 104-page decision brief for biopharma firms and investors. It presents an indicative trajectory rather than a segmented market model. Its purpose is to identify which diseases scale first and who captures value.

Molecular glues are small molecules that stabilize or create contact between two proteins. In degraders, they bring a target to a ligase such as cereblon so that the target is destroyed.

Thalidomide, lenalidomide and pomalidomide are the established glues. Newer cereblon modulators include mezigdomide, iberdomide and golcadomide, and newer targets include VAV1, GSPT1 and others.

Rational design and large screens now replace the accidental discoveries that produced the first glues, which widens the targets that can be tried.

Uses are multiple myeloma and lymphoma today, with immune disease and solid tumours under study, each under small molecule drug regulation.

The limits are the difficulty of finding glues for new targets, the small number of ligases used, off-target effects and competition from PROTACs and other modalities. The decade turns on whether new targets deliver clinical benefit beyond blood cancer.

The molecular glues market, covering sales of approved molecular glue drugs including immunomodulatory drugs and cereblon modulators, related licensing and collaboration revenue, and related discovery and manufacturing services, is valued at USD 5–7 billion in 2026 and is projected to reach USD 12.97–18.16 billion by 2036, at a CAGR of 10%.

The 2026 base rests on sales of immunomodulatory drugs and cereblon modulators, licensing and collaboration income, and discovery and manufacturing services. Growth then follows approvals of new generation glues, immune disease studies and glues for new targets.

The forecast is sensitive to Phase 3 results, Phase 2 results in immune disease, safety and competition from PROTACs. Regionally, North America leads on sales, companies and deals, Europe on academic research and manufacturing, and Asia-Pacific on fast following developers.

Base case.

The base case assumes Phase 3 readouts for new generation cereblon modulators in 2027 and 2028 and Phase 2 readouts for immune disease glues around 2028, giving the inflection in 2032.

Accelerated case.

An accelerated case assumes strong immune disease data and earlier registration, bringing the inflection to 2030 and lifting the 2036 value to the top of the range.

Delayed case.

A delayed case assumes weak Phase 2 data and faster erosion of established glue sales, holding growth at the bottom of the range.

Growth drivers

• Patients in multiple myeloma and lymphoma needing new options.
• Phase 3 results for cereblon modulators.
• Phase 2 trials in immune disease.
• Large pharmaceutical investment in glues.

Enablers

• Venture funding and financing rounds.
• Biopharma licensing and partnerships.
• Public research funding.
• Rational glue design platforms.

Restraints and barriers

• Difficulty of finding glues for new targets.
• Limited number of ligases used.
• Competition from PROTACs and other modalities.
• Cost and complexity of development.

The direction of molecular glues is set by the need to reach targets that inhibitors cannot, regulation, new targets and ligases, biopharma dealmaking and partnering, and development cost.

The key participants in molecular glues include Bristol-Myers Squibb Company, Novartis AG, AbbVie Inc., Eli Lilly and Company, Biogen Inc., Pfizer Inc., Eisai Co., Ltd., Takeda Pharmaceutical Company Limited, Amgen Inc., F. Hoffmann-La Roche Ltd, Monte Rosa Therapeutics, Inc., Neomorph, Inc., Magnet Biomedicine, Inc., TRIANA Biomedicines, Inc., SEED Therapeutics, Inc., C4 Therapeutics, Inc., Degron Therapeutics, Inc., Novo Nordisk A/S, Kymera Therapeutics, Inc., Sanofi, AstraZeneca PLC, Gilead Sciences, Inc., Lonza Group Ltd, Thermo Fisher Scientific Inc., Charles River Laboratories International, Inc., Dana-Farber Cancer Institute, Memorial Sloan Kettering Cancer Center, Broad Institute, American Society of Clinical Oncology, American Society of Hematology, American Association for Cancer Research, European Society for Medical Oncology, U.S. Food and Drug Administration, European Medicines Agency, Medicines and Healthcare products Regulatory Agency, Pharmaceuticals and Medical Devices Agency, National Medical Products Administration, International Council for Harmonisation and United States Pharmacopeia.

The brief profiles representative participants in each archetype and assesses which are positioned to lead as molecular glues mature.

Bristol-Myers Squibb leads on marketed and late-stage glues, Monte Rosa, Neomorph, Magnet Biomedicine and TRIANA lead platform and early clinical development, and Novartis, AbbVie, Eli Lilly, Biogen and Pfizer shape the class through licensing, while chemistry suppliers, cancer centres, regulators and standards bodies influence the speed of adoption. Competitive intensity is moderate in 2026 because established glues dominate sales and new target glues are early, and it rises as Phase 2 data arrive.

Where value migrates.

In 2026 value sits with the holders of established glues and new generation cereblon modulators, and with the platform developers that license programmes to large firms. By 2032 it moves toward companies with approved new generation glues, because late-stage data and approvals decide which partnerships pay milestones. By 2036 it settles in integrated glue discovery and development platforms and in suppliers with scaled chemistry capacity. Margins hold for products with clear clinical benefit and narrow for late followers on shared targets and ligases.

The signals converge on late-stage progress and continued dealmaking. A new generation glue reported positive Phase 3 results in March 2026, a VAV1 glue started a second Phase 2 study in October 2026 with a USD 37.5 million milestone, and large firms signed glue deals of up to USD 1.64 billion. Each signal supports growth, and most programmes outside blood cancer remain in Phase 1 and Phase 2.

Structural limits show where progress could slow: difficulty of finding glues for new targets, the small number of ligases used, safety and competition from PROTACs. The brief therefore tracks four indicators: Phase 3 readouts, Phase 2 immune disease results, new ligases and deal values.

New generation glues in multiple myeloma and lymphoma, then immune disease glues, then glues for solid tumours and neurological disease are the expected order of development.