Purdue Research Foundation has synthesized proteolysis targeting chimeras (PROTACs) comprising a E3 ubiquitin ligase binding moiety covalently linked to a tyrosine-protein phosphatase non-receptor type 1 (PTPN1; PTP-1B) and 2 (PTPN2; TCPTP) dual targeting moiety reported to be useful for the treatment of cancer, type 2 diabetes and obesity.