The binary and ternary complex formed by BRD2, PROTAC MZ1, and ligase VCB were characterized by Spectral Shift. The affinity of BRD2 + MZ1 (Kd = 18.8 nM) was determined first. Under assay conditions that revealed the hook effect, 57 nM of MZ1 resulted in maximum ternary complex formation. Positive cooperativity ( α = 9.3) — which is known to correlate with efficient ubiquitination and target degradation — correlates with previously published data.