Monte Rosa Therapeutics Announces Closing of Global License Agreement with Novartis to Advance T and B Cell-modulating VAV1-directed Molecular Glue Degraders
Monte Rosa Therapeutics, Inc. (GLUE)
Company Research
Source: GlobeNewswire
BOSTON, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today announced the closing of the Company’s previously announced global exclusive development and commercialization license agreement with Novartis to advance VAV1-directed MGDs, including MRT-6160. Under the terms of the agreement, Novartis will obtain exclusive worldwide rights to develop, manufacture, and commercialize MRT-6160 and other VAV1 MGDs and will be responsible for all clinical development and commercialization, starting with Phase 2 clinical studies. Monte Rosa remains responsible for completing the ongoing Phase 1 clinical study of MRT-6160.i Novartis has agreed to pay Monte Rosa $150 million up front. Monte Rosa is eligible to receive up to $2.1 billion in development, regulatory, and sales milestones, beginning upon initiation of Phase 2 studies, as well as tiered royalties on
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GLUE
News
- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) was downgraded by analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating. They now have a $11.00 price target on the stock, down previously from $14.00.MarketBeat
- Monte Rosa Therapeutics Appoints Dr. Eric A. Hughes to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics Appoints Dr. Eric A. Hughes to Board of DirectorsGlobeNewswire
- Monte Rosa Therapeutics Presents Preclinical Data at the 2024 San Antonio Breast Cancer Symposium on the Potential of its CDK2-directed Molecular Glue Degraders to Treat HR-positive/HER2-negative Breast Cancer [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics Announces Closing of Global License Agreement with Novartis to Advance T and B Cell-modulating VAV1-directed Molecular Glue Degraders [Yahoo! Finance]Yahoo! Finance
GLUE
Earnings
- 8/8/24 - Beat
GLUE
Sec Filings
- 12/13/24 - Form 4
- 12/13/24 - Form 3
- 12/13/24 - Form 8-K
- GLUE's page on the SEC website