Monte Rosa Therapeutics has signed an exclusive licensing agreement with Novartis to advance its novel molecular glue degrader (MGD)-based drugs, including MRT-6160.
MRT-6160 is a highly selective, and orally bioavailable investigational degrader of VAV1, a protein that plays a key role in downstream signalling of both the T- and B-cell receptors.
The candidate is currently developed in an ongoing Phase 1, single ascending dose (SAD)/multiple ascending dose (MAD) healthy volunteer study for immune-mediated conditions.
Under the terms of the agreement, Novartis will obtain exclusive worldwide rights to develop, manufacture and commercialise MRT-6160 and other VAV1 MGDs.
Monte Rosa will receive $150m in upfront payment and is eligible to receive up to $2.1bn in milestone payments contingent on achieving development, regulatory, and sales milestones.
Also, the US drugmaker is eligible to receive tiered royalties on net sales of products outside the US, upon initiation of Phase 2 studies.
The Swiss drugmaker will be responsible for all clinical development and commercialisation activities, and Monte Rosa for completing the ongoing Phase 1 clinical study of MRT-6160.
The two companies will co-fund any Phase 3 clinical development and will share any profits and losses related to the manufacturing and commercialisation of MRT-6160 in the US.
Novartis biomedical research president Fiona Marshall said: “Novartis has had a long-standing interest in molecular glue degraders, which offer the potential to tackle challenging biological targets. We are excited about their application in immunology and the early progress we have seen by Monte Rosa in this space and with MRT-6160.
“We look forward to advancing MRT-6160 and learning more about its potential to provide a new therapeutic option for people living with a range of immune-mediated conditions.
“Novartis is committed to bringing forward new therapeutic options for these patients, and we are happy to be working with Monte Rosa to harness the potential of this approach to address unmet medical needs.”
Monte Rosa is a clinical-stage biotechnology company developing highly selective MGD medicines for patients living with serious diseases.
The company developed the quantitative and engineered elimination of neosubstrates (QuEEN) discovery engine to identify degradable protein targets and rationally designed MGDs.
The QuEEN discovery engine combines AI-guided chemistry, diverse chemical libraries, structural biology, and proteomics.
Also, Monte Rosa has developed a portfolio of MGDs across oncology, autoimmune and inflammatory disease and beyond, and partnered with Roche to discover and develop MGDs.
Monte Rosa Therapeutics CEO Markus Warmuth said: “We are thrilled to announce this agreement with Novartis, a key player in immune-mediated conditions, and we are excited about the transformative potential it provides for Monte Rosa and MRT-6160.
“We believe the transaction validates our unique and industry-leading QuEEN discovery engine, and it further increases our conviction to rationally design and develop highly selective and safe MGDs for undruggable targets, including in the areas of immunology and inflammation, metabolism, and genetic diseases.
“The financial resources provided by this agreement are expected to extend our operational runway, enable us to advance our pipeline to potential value-creating milestones and anticipated proof-of-concept readouts, and further leverage our QuEEN discovery engine.”
