Ropes & Gray advised Monte Rosa Therapeutics in a collaboration agreement with Novartis to develop novel molecular glue degrader-based medicines for immune diseases in a deal worth up to $5.7 billion. Monte Rosa will conduct discovery and early testing before Novartis takes over development for programs it chooses to license. The collaboration was announced on September 15.
Under the agreement, Novartis receives options to license two programs from Monte Rosa’s growing preclinical immunology portfolio. Monte Rosa will receive an upfront payment of $120 million and receive payments to maintain the options. In total deal value, Monte Rosa is eligible to receive up to $5.7 billion, including upfront, option maintenance, preclinical milestone, option exercise, and development, regulatory, and sales milestone payments across programs, as well as tiered royalties on global net sales.
The Ropes & Gray team was led by life sciences licensing partner David McIntosh and life sciences licensing associate Nicole Rohr.
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