Monte Rosa soars as it inks global license deal with Novartis

28 October 2024

Shares of US clinical-stage developer of molecular glue degrader (MGD)-based medicines Monte Rosa Therapeutics (Nasdaq: GLUE) rocketed up more than 60% to $7.84 by mid-morning, as the company announced a global exclusive development and commercialization license agreement with Novartis (NOVN: VX).

The plan is to advance VAV1 MGDs, including MRT-6160, which is currently in an ongoing Phase I, single ascending dose (SAD)/multiple ascending dose (MAD) healthy volunteer study for immune-mediated conditions.

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