DENVER, Colo., Oct 17, 2023 (www.247marketnews.com)- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) disclosed, this morning, that it entered into a strategic collaboration and licensing agreement with Roche, one of the largest global healthcare companies, to discover and develop MGDs against targets in cancer and neurological diseases previously considered impossible to drug.
The collaboration combines Monte Rosa’s QuEEN discovery engine with Roche’s strong expertise in delivering transformative therapies to patients. Monte Rosa will receive a $50 million upfront payment and the potential future payments exceed $2 billion.
Monte Rosa is trading at $5.20, up $0.20 (+4.00%), on 360.8K premarket shares traded.
Its 52-week range is $ 4.16 to 10.96. It hit its 52-week low two weeks ago and it’s surprising to see such little reaction. Perhaps this moves in a day or two?
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