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Will Monte Rosa's market cap double by end of 2025 following Novartis deal?
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Monte Rosa and Novartis Sign $150M Global License Agreement for MRT-6160 with $2.2B Milestone
Oct 28, 2024, 11:30 AM
Monte Rosa Therapeutics has announced a global license agreement with Novartis to advance T and B cell-modulating VAV1-directed molecular glue degraders. Novartis has committed $150 million upfront, with potential milestone payments that could exceed $2.2 billion, including $2.1 billion downstream. The deal aims to further develop Monte Rosa's MRT-6160, which is currently in Phase 1 trials. This agreement is part of Monte Rosa's broader strategy, which includes a recent collaboration with Roche to target previously undruggable cancer and neurological disease targets. Monte Rosa's CEO is Markus Warmuth, with Filip Janku as Chief Medical Officer and Jocelyn Castle as Chief Data and Information Officer. The upfront payment is half of Monte Rosa's market cap. Monte Rosa's platform/discovery engine is called QuEEN (Quantitative & Engineered Elimination of Neosubstrates).
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