BASEL (dpa-AFX) - Biotechnology company Monte Rosa Therapeutics, Inc. (GLUE) announced a global exclusive development and commercialization license agreement with Novartis AG (NVS) to advance T and B cell-modulating VAV1-directed Molecular Glue Degraders or MGDs, including MRT-6160.
MRT-6160 is currently in an ongoing Phase 1, single ascending dose (SAD)/multiple ascending dose (MAD) healthy volunteer study for immune-mediated conditions.
Under the terms of the agreement, Novartis will obtain exclusive worldwide rights to develop, manufacture and commercialize MRT-6160 and other VAV1 MGDs and will be responsible for all clinical development and commercialization, starting with Phase 2 clinical studies.
Monte Rosa remains responsible for completion of the ongoing Phase 1 clinical study of MRT-6160.
Novartis has agreed to pay Monte Rosa $150 million up front. Monte Rosa is eligible to receive up to $2.1 billion in development, regulatory, and sales milestones, beginning upon initiation of Phase 2 studies, as well as tiered royalties on ex-U.S. net sales.
Monte Rosa will co-fund any Phase 3 clinical development and will share any profits and losses associated with the manufacturing and commercialization of MRT-6160 in the U.S.
The agreement is subject to customary closing conditions including regulatory clearance.
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