Monte Rosa Therapeutics, a Boston, MA-based biotechnology company focused on discovering and developing precision medicines that degrade disease-causing proteins, closed a $95m Series C financing.
The round was led by Avoro Capital Advisors with participation from 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 round, as did additional 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.
The company intends to use the proceeds to advance its lead development candidate into the clinic, accelerate pipeline growth and bolster its platform capabilities to rationally design and develop small molecule degraders (also known as molecular glues) that hijack the body’s innate ability to degrade proteins.
Led by Markus Warmuth, M.D., CEO, Monte Rosa is a biotechnology company discovering and developing molecular glues to degrade disease-causing proteins. The company has created a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate disease drivers previously deemed undruggable. The drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles.
Monte Rosa was launched from founding investor Versant Ventures’ Ridgeline Discovery Engine and has research operations in both Boston and Basel, Switzerland.