Business
Monte Rosa Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Business Updates
– Company on Track for Mid-year Filing of Investigational New Drug (IND) Application for Lead Candidate MRT-2359 – – Progressed NEK7 and CDK2 Molecular Glue
About this update from Monte Rosa Therapeutics, Inc.
[{"type":"text","content":"– Company on Track for Mid-year Filing of Investigational New Drug (IND) Application for Lead Candidate MRT-2359 – – Progressed NEK7 and CDK2 Molecular Glue Degrader Programs into Lead Optimization – – Year-end Cash and Cash Equivalents Expected to Provide Runway into Late 2024 – BOSTON, March 29, 2022 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE), a biotechnology company developing novel molecular glue degrader (MGD) medicines, today reported business highlights and financial results for the fourth quarter and full year, ended December 31, 2021. “Last year was transformational for Monte Rosa as we continued to build out our world-class leadership team, expanded operations across our two sites in Boston and Basel, named MRT-2359 our development candidate for the GSPT1 program, and secured $377.6 million in funding,” said Markus Warmuth, M.D., CEO of Monte Rosa. “As we look to 2022, we anticipate significant pipeline progress, including the submission of our IND for MRT-2359, as well as continued lead optimization on our CDK2 and NEK7 programs. We are also seeing exciting advancements across our proprietary QuEEN platform, including the expansion of our understanding of structural characteristics of degradable proteins driven by both our experimental and AI platforms. We believe we are well-positioned both organizationally and financially to execute on our vision of tackling historically undruggable targets and identifying potent, highly selective therapies for patients with few or no treatment options.” FOURTH QUARTER 2021 & RECENT HIGHLIGHTS Presented preclinical data for MRT-2359 demonstrating anti-tumor activity in L- and N-Myc-positive non-small cell lung cancer patient-derived xenograft (PDX) models. The data were featured as part of the company’s presentation at the 40th Annual J.P. Morgan Healthcare Conference. MRT-2359 is a potent, selective and orally bioavailable GSPT1-directed molecular glue degrader. MRT-2359 has been shown to induce tumor regression in multiple Myc-driven preclinical models, including models of non-small cell lung cancer and small cell lung cancer. Advanced CDK2 degrader program into lead optimization. Leveraging the company’s QuEEN™ platform, Monte Rosa has identified selective MGDs for CDK2, a highly validated oncogenic driver of breast, gynecological and other cancers. Announce...