Monte Rosa To Receive $37.5M Milestone Payment From Novartis Following Initiation Of Second Phase 2 Trial Of MRT-6160 In Psoriatic Arthritis

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today announced that its collaborator Novartis has initiated a second Phase 2 clinical study for the VAV1-directed MGD MRT-6160 (DDY391) in people living with active moderate to severe psoriatic arthritis (PsA). The study follows the Phase 2 trial in Sjögren's disease initiated in August and is part of a global exclusive development and commercialization license agreement between Monte Rosa and Novartis to advance VAV1 MGDs, including MRT-6160 (DDY391). In connection with the first patient visit of the study, Monte Rosa will receive a $37.5 million milestone payment from Novartis.