Stock Track | Monte Rosa Soars on $2.25 Billion Novartis Deal for Novel Immune Drug

Stock Track10-29

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) skyrocketed 142% on October 28, 2024 after the clinical-stage biotech announced a massive $2.25 billion global licensing agreement with pharmaceutical giant Novartis. The deal gives Novartis exclusive worldwide rights to develop and commercialize Monte Rosa's lead program MRT-6160 and other VAV1-directed molecular glue degrader candidates for immune-mediated diseases.

Under the terms, Novartis paid $150 million upfront to Monte Rosa and could pay up to $2.1 billion more in development, regulatory, and commercial milestones. Monte Rosa will also receive tiered royalties on ex-U.S. net sales of any approved products. Notably, Monte Rosa will co-fund and share profits/losses with Novartis for any Phase 3 studies and U.S. commercialization of MRT-6160.

MRT-6160 is an oral, selective degrader of the VAV1 protein, a key regulator of immune cell signaling. The drug candidate is currently in a Phase 1 study in healthy volunteers, with initial data expected in Q1 2025. If successful, MRT-6160 could advance to mid-stage trials in ulcerative colitis, rheumatoid arthritis, and other autoimmune indications where cytokine modulation may provide therapeutic benefit.

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