Monte Rosa Therapeutics Discloses $32.5 Million Financing

On May 26, 2020 Monte Rosa Therapeutics, a biotechnology company developing small molecules to degrade disease-related proteins, reported stealth mode revealing a $32.5 million Series A commitment from founding investor Versant Ventures and New Enterprise Associates. Monte Rosa was launched from Ridgeline, Versant’s Discovery Engine based in the Basel Technology Park (Press release, Monte Rosa Therapeutics, MAY 26, 2020, View Source [SID1234558486]). The company is now headquartered in Boston, MA, with research operations in both Boston and Basel, Switzerland.

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Monte Rosa has developed a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate disease drivers previously deemed undruggable. The platform includes computational capabilities to predict and model ligase-neosubstrate interactions and quantitative proteomics to obtain protein degradation profiles.

Expanding the horizon for cereblon reprogramming

In 2018, Monte Rosa was established in Versant’s Ridgeline laboratories in collaboration with The Institute of Cancer Research (ICR) and Cancer Research UK. Academic co-founders Rajesh Chopra, MD, and Ian Collins, PhD, are prominent leaders in the field of protein degradation.

Nicolas Thomä, PhD, a world-leading chemical and structural biologist at the Friedrich Miescher Institute in Basel, also joined Monte Rosa as scientific advisor. Dr. Thomä recently published a series of seminal papers revealing mechanistic details of cereblon-mediated protein degradation. His work demonstrated the pivotal role of a glycine loop degron on target proteins, and opened up the potential for drug discovery on many more disease-relevant targets. This work underpins Monte Rosa’s platform and approach.

"With our improved understanding of the broad potential of cereblon and other ubiquitin ligases, there is now an opportunity to eliminate major – and currently undruggable – drivers of solid tumors such as transcription factors and adaptor proteins," said Markus Warmuth, MD, CEO of Monte Rosa and a venture partner at Versant.

Developing drug candidates with novel degradation profiles

Monte Rosa has built an integrated drug discovery platform that combines one of the most diverse chemical libraries of protein degraders with in-house proteomics and structural biology capabilities. By the end of 2020, the chemical library is expected to grow to more than 10,000 structures designed for ubiquitin ligase reprogramming.

To date, several validated small molecule leads have been identified through conventional and phenotypic screens along with rational drug design. A number of these leads possess novel degradation profiles and have demonstrated in vivo efficacy across several different tumor models.

"Using this approach we can potentially design drugs for the hundreds to thousands of proteins with glycine loop degrons," said Alex Mayweg, PhD, managing director at Versant and Monte Rosa board member. "Unlike protacs, these small molecules can degrade proteins that lack classical drug-binding pockets, which include known drivers of certain forms of cancer and other serious diseases."

Operating and financing plans

Monte Rosa plans to build out its platform and concurrently develop a portfolio of drug candidates for multiple indications. One of its portfolio leads, MRT-048, has demonstrated a differentiated degradation profile and promising in vivo activity in several models of resistant breast cancer. The molecule is undergoing further preclinical development and safety testing. The company expects to file one or more IND submissions during 2021.

"Monte Rosa has built a formidable drug discovery capability and portfolio based on access to unique insights into ubiquitin ligase reprogramming," said Ali Behbahani, MD, general partner at NEA and Monte Rosa board member. "This approach is now demonstrating the potential to impact patients with intractable forms of cancer."

The company will soon launch a Series B financing to back the development of multiple clinical-stage programs. To capture the full potential of its technology platform, Monte Rosa also will explore discovery-stage pharma collaborations.

SQZ Biotech to Participate in June Investor Conferences

On May 26, 2020 SQZ Biotechnologies (SQZ), a cell therapy company developing novel treatments for multiple therapeutic areas, reported that Armon Sharei, PhD, chief executive officer, will be presenting at the following upcoming virtual investor conferences (Press release, SQZ Biotech, MAY 26, 2020, View Source [SID1234558485]):

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Jefferies Virtual Healthcare Conference
Tuesday, June 2, 2020
Presentation Time: 3:30pm-3:55pm ET

Raymond James Human Health Innovations Conference
Wednesday, June 17, 2020
Cell Therapy Panel Time: 12:00pm ET

Dr. Sharei and Teri Loxam, chief financial officer will also be holding one on one meetings during the conferences.

Ribon Therapeutics to Present at the Jefferies Virtual Healthcare Conference

On May 26, 2020 Ribon Therapeutics, a clinical stage oncology company developing first-in-class therapeutics targeting stress response pathways, reported that Victoria Richon, Ph.D., President and CEO, will provide a corporate overview and an update on the company’s lead clinical program, PARP7 inhibitor RBN-2397, at the Jefferies 2020 Virtual Healthcare Conference (Press release, Ribon Therapeutics, MAY 26, 2020, View Source [SID1234558484]).

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Jefferies Virtual Healthcare Conference – June 2-4, 2020
Corporate Presentation
Presenter: Victoria Richon, Ph.D. – President and CEO
Date: June 2, 2020
Time: 3:00 p.m. EDT

Rocket Pharmaceuticals Announces Participation at the Jefferies Virtual Healthcare Conference

On May 26, 2020 Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) ("Rocket"), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare disorders, reported that Gaurav Shah, M.D., Chief Executive Officer and President of Rocket is scheduled to present on Tuesday, June 2, 2020, at 2:00 p.m. Eastern Time at the Jefferies Virtual Healthcare Conference (Press release, Rocket Pharmaceuticals, MAY 26, 2020, View Source [SID1234558483]).

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A live audio webcast of the presentation will be available on the Investors section of the company’s website, www.rocketpharma.com. A replay of the presentation will be archived on the Rocket website following the conference.

Saniona announces outcome of warrant exercise

On May 26, 2020 Saniona (OMX: SANION), a clinical stage biopharmaceutical company focused on rare diseases, reported the outcome in the exercise of warrants of series TO 1, that was issued in connection with Saniona’s rights issue and directed issue in the first quarter of 2020 (Press release, Saniona, MAY 26, 2020, View Source [SID1234558482]). During the period May 11th – 25th, 2020, holders of warrants of series TO 1 had the right to subscribe for new shares, by exercise of warrants. In total, 970,797 warrants of series TO 1 were exercised, corresponding to a subscription rate of 65.61 percent. Saniona will thereby receive proceeds of approx. SEK 24.3 million, before issue costs, which amount to approx. SEK 0.4 million.

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Number of shares and share capital
Saniona will receive proceeds of approx. SEK 24.3 million, before issue costs. Issue costs amount to approx. SEK 0.4 million. When the new shares have been registered with the Swedish Companies Registration Office ("Bolagsverket"), the total number of shares in Saniona will amount to 30,383,316 shares and the share capital will amount to SEK 1,519,165.80.

"We are grateful for the support from the shareholders and are of course pleased with the fact that investors see significant potential in the continued development of our pipeline as well as in the ongoing organizational expansion in the U.S.," says Rami Levin, President & CEO. "We are now even better equipped to take the company to the next level."

Financial advisor, legal advisor, and issuing agent
Sedermera Fondkommission is financial advisor and issuing agent and Setterwalls Advokatbyrå is legal advisor to Saniona in connection with the issue and exercise of warrants of series TO 1.

For more information regarding the warrants of series TO 1, please contact Sedermera Fondkommission
Phone: +46 40-615 14 10, Email: [email protected]

This information is such information as Saniona AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06:15 p.m. CEST on May 26, 2020.