LC-MF-4 is a selective FGFR3 PROTAC degrader with a DC50 of 30.89 nM in KMS-11 cells. It inhibits the metabolic functions of FGFR3-TACC3 fusion-positive cancers by reducing ATP synthesis and suppressing mitochondrial biogenesis genes. LC-MF-4 demonstrates potent anti-tumor activity in the Ba/F3-FGFR3-TACC3 xenograft mouse model and is applicable for research on FGFR3 gene mutation cancers such as bladder cancer and urothelial carcinoma (UC).