Monte Rosa Therapeutics Announces Milestone Achievement Associated with Second Phase 2 Clinical Study Initiation for VAV1-directed Molecular Glue Degrader MRT-6160 (DDY391)

What happened: Novartis initiated a second Phase 2 study of MRT-6160 (DDY391), a VAV1-directed molecular glue degrader, in active moderate to severe psoriatic arthritis under its license agreement with Monte Rosa Therapeutics (Nasdaq: GLUE). Key numbers: Monte Rosa will receive a $37.5 million milestone payment tied to the Why it matters: The trial follows a Phase 2 study in Sjogren's disease initiated in August, and Monte Rosa said it is eligible for additional Phase 2 study initiation milestones. CEO Markus Warmuth said the milestone shows momentum behind the Novartis collaboration. Market: +1.9% today ($41.58), +14.7% YTD — as of 08:30 UTC

Novartis initiated a second Phase 2 study of MRT-6160 (DDY391), a VAV1-directed molecular glue degrader, in active moderate to severe psoriatic arthritis under its license agreement with Monte Rosa Therapeutics (Nasdaq: GLUE).

The trial follows a Phase 2 study in Sjogren's disease initiated in August, and Monte Rosa said it is eligible for additional Phase 2 study initiation milestones. CEO Markus Warmuth said the milestone shows momentum behind the Novartis collaboration. Market: +1.9% today ($41.58), +14.7% YTD — as of 08:30 UTC