(RTTNews) - Biotechnology company Monte Rosa Therapeutics, Inc. (GLUE) announced Tuesday it has entered into a strategic collaboration and licensing agreement with Roche Holding AG to discover and develop MGDs against targets in cancer and neurological diseases.
Under the terms of the agreement, Monte Rosa Therapeutics will receive an upfront payment of $50 million, and is eligible to receive future preclinical, clinical, commercial and sales milestone payments that could exceed $2 billion, as well as tiered royalties.
The parties also agreed on a mechanism to expand the collaboration on multiple targets within the first two years. In that case, additional payments for nomination, preclinical, clinical, commercial and sales milestones are due, as well as tiered royalties on the resulting products.
Monte Rosa Therapeutics will lead discovery and preclinical activities against multiple select cancer and neurological disease targets to a defined point. Roche gains the right to exclusively pursue further preclinical and clinical development of the compounds. Monte Rosa retains full ownership of its pipeline programs.
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