Monte Rosa Therapeutics' Stock Soars After $2.1 Billion Deal with Novartis

The agreement grants Novartis global rights to develop Monte Rosa's molecular glue degraders, including the promising MRT-6160 drug.

Monte Rosa Therapeutics' shares more than doubled after announcing a deal with Novartis worth up to $2.1 billion.
Novartis will pay $150 million upfront for rights to develop and commercialize Monte Rosa's MRT-6160 and other molecular glue degraders.
The collaboration focuses on targeting immune system diseases using Monte Rosa's QuEEN discovery platform.
Monte Rosa will complete the ongoing Phase 1 trial of MRT-6160, while Novartis will handle subsequent clinical development.
Monte Rosa's CEO highlighted the deal's potential to extend the company's operational runway and advance its drug pipeline.