Monte Rosa Therapeutics, a preclinical biotech developing small molecule protein degraders for cancer and other diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Monte Rosa Therapeutics uses its proprietary protein degradation platform, QuEEN, to rapidly identify protein targets and molecular glue degrader, or MGD, product candidates that are designed to eliminate therapeutically relevant proteins. The company plans to select one of its selective, orally bioavailable GSPT1-directed MGD molecules for use in a genetically-defined subset of non-small cell lung cancer patients by the second half of 2021, and submit an IND in the first half of 2022. The company also has preclinical discovery programs in ovarian, uterine, and breast cancer as well as various autoimmune and inflammatory diseases.
The Boston, MA-based company was founded in 2019 and plans to list on the Nasdaq under the symbol GLUE. J.P. Morgan, Cowen, Piper Sandler, and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
