Business
Monte Rosa Therapeutics Announces First Development Candidate and Reports Third Quarter 2021 Financial Results and Business Updates
– Initiated Investigational New Drug (IND)-Enabling Activities for MRT-2359, a Molecular Glue Degrader Selectively Targeting GSPT1 – – Presented Preclinical
About this update from Monte Rosa Therapeutics, Inc.
[{"type":"text","content":"– Initiated Investigational New Drug (IND)-Enabling Activities for MRT-2359, a Molecular Glue Degrader Selectively Targeting GSPT1 – – Presented Preclinical Data at AACR-NCI-EORTC Highlighting the Potential of GSPT1-directed Molecular Glue Degraders for the Treatment of Myc-driven Cancers – BOSTON, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE), a biotechnology company developing novel molecular glue-based precision medicines, today reported business highlights and financial results for the third quarter, ended Sept. 30, 2021. “This year has been marked by several exciting and significant milestones for Monte Rosa, culminating in the naming of our first development candidate, MRT-2359, selectively targeting GSPT1 for the treatment of cancers driven by one of the Myc family genes,” said Markus Warmuth, M.D., CEO of Monte Rosa. “Preclinical data recently presented at AACR-NCI-EORTC underscores the potential of our molecular glue degraders to differentially induce cell death in Myc-addicted tumors. With the selection of MRT-2359 as our lead candidate, we are now positioned to rapidly advance our clinical development plan in both solid tumors and hematological malignancies. We have initiated IND-enabling studies and look forward to submitting our first IND to the FDA in mid-2022.” Owen Wallace, Ph.D., Chief Scientific Officer of Monte Rosa, added, “Advancing our first development candidate into IND-enabling activities is one of the most important milestones for our company to date. On a similar trajectory, our NEK7 degrader program has progressed into lead optimization, and we expect at least one additional program to move into lead optimization in 2021. In parallel, we continue to make important progress in the development of our unique and proprietary QuEEN™ platform and compound library, bringing us closer to our goal of tackling the previously undruggable target protein universe and fostering a new generation of precision medicine therapeutics.” THIRD QUARTER 2021 & RECENT HIGHLIGHTS Selected first development candidate, MRT-2359, targeting GSPT1 and initiated IND-enabling activities. The company’s lead program targets GSPT1 for the treatment of cancers driven by one of the Myc family genes (c-Myc, N-Myc and L-Myc). The Myc transcription factors are some of the most frequently activated oncogenes ...