BOSTON–(COMMERCIAL THREAD) – Monte Rosa Therapeutics, a biotechnology company focused on the discovery and development of precision drugs that degrade pathogenic proteins, today announced the closing of a $ 95 million Series C funding. The product will be used to advance its lead candidate for clinical development, accelerate pipeline growth, and enhance the capabilities of its platform to rationally design and develop small molecule degraders (also known as molecular glues) that hijack the innate ability of the body to break down proteins. Through this approach, Monte Rosa aims to eradicate non-drug proteins that cause or lead to the progression of genomically defined diseases insoluble in standard care, including cancer.
Funding was led by Avoro Capital Advisors with the participation of additional new investors Fidelity Management & Research Company LLC, funds and accounts managed by BlackRock, funds and accounts advised by T. Rowe Price Associates, Inc., and RTW Investments, LP. Monte Rosa’s founding investor, Versant Ventures, participated in the cycle, as did other existing investors, New Enterprise Associates, Aisling Capital, Cormorant Asset Management, HBM Healthcare Investments, GV, Amzak Health, Sixty Degree Capital, Casdin Capital and Cambridge Asset Management.
“By harnessing the power of nature’s protein degradation pathways, our next-generation approach is uniquely designed to target the non-drug proteome and remove disease-causing proteins with great precision,” said Markus Warmuth, MD, CEO of Monte Rosa. “With a broad and convincing in vivo Given in hand, we are confident in the potential of our targeted molecular glue-based protein degradation platform to deliver breakthrough small molecule therapies. As we prepare to launch IND studies on our lead candidate later this year, and with additional programs to transition to lead optimization, we are delighted to have the continued support of a group as well. strong new and existing investors who share our vision. We are excited to build on our early successes to further expand our platform, targeting disease-causing proteins that have been impossible to drug in multiple therapeutic indications. ”
“Molecular glue degraders represent a powerful and differentiated approach to eradicate disease-causing proteins,” said Behzad Aghazadeh, Ph.D., Managing Partner, Avoro Capital Advisors. “Coupled with Monte Rosa’s world-class team and drug discovery platform powered by their machine-learning-based degron prediction, the company is poised to rapidly expand the previously unsuccessful target universe. drugs and promote a new generation of therapies. ”
About Monte Rosa
Monte Rosa Therapeutics is a biotechnology company that discovers and develops molecular glues to degrade pathogenic proteins. The company has created a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate vectors of diseases previously thought to be out of control. The company’s drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house capabilities in proteomics, structural biology, machine learning-based target selection and computational chemistry to predict and obtain protein degradation profiles. Monte Rosa was started by Ridgeline Discovery Engine from founding investor Versant Ventures and is headquartered in Boston, Massachusetts, with research operations in Boston and Basel, Switzerland. For more information visit www.monterosatx.com.