Ropes & Gray advised Monte Rosa Therapeutics (Nasdaq: GLUE) in a global exclusive licensing agreement with Novartis to develop and commercialize a molecular glue degrader (MGD) drug for immune-related diseases. MGDs aim to selectively degrade and eliminate abnormal protein functions associated with some diseases that are hard to treat with existing medications. The agreement was announced on October 28.

Under the agreement, Monte Rosa received $150 million from Novartis for global licensing rights to the Phase 1 drug, MRT-6160, and is eligible to receive up to $2.1 billion in future milestone payments and tiered royalties on ex-U.S. net sales. Novartis will obtain exclusive worldwide rights to develop, manufacturer and commercialize MRT-6160 and other molecular glue degraders. Monte Rosa will co-fund any Phase 3 trials and will share any profits and losses associated with the manufacturing and commercialization of MRT-6160 in the U.S.

The team included life sciences licensing partners David McIntosh and Marc Rubenstein and life sciences licensing associates Nicole Rohr and Megan Fernandez.