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Monte Rosa stock price increases by 50% after Novartis deal by March 2025?
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Monte Rosa and Novartis Sign $150M Global License Agreement with $2.2B Milestone for Molecular Glue Degraders
Oct 28, 2024, 12:56 PM
Monte Rosa Therapeutics has announced a global license agreement with Novartis to advance T and B cell-modulating VAV1-directed molecular glue degraders. The deal includes a $150 million upfront payment from Novartis, with potential future milestone payments reaching up to $2.2 billion. The agreement aims to develop, manufacture, and commercialize innovative drug candidates, including MRT-6160, which is currently in Phase 1 trials. This partnership is expected to significantly impact the field of immunology and inflammation (I&I) therapeutics. Monte Rosa's CEO Markus Warmuth, Chief Medical Officer Filip Janku, and Chief Data & Information Officer Jocelyn Castle are key figures in this collaboration. Monte Rosa's stock jumped 32.1% pre-market following the announcement, and the deal includes a 30% US P&L share for Monte Rosa.
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