Ninth Mass. biotech IPO of 2021 brings in $222M for Monte Rosa

Versant Ventures-founded protein degradation startup Monte Rosa Therapeutics has hit the public market, raising just over $222 million in an IPO. Three-year-old Monte Rosa is trading on the Nasdaq under the ticker "GLUE," a nod to what CEO Markus Warmuth calls the "molecular glue" that forms the basis for its drugs and allows them to hit a wider array of targets. Monte Rosa had priced its shares at $19 each, the high end of its range. Its share prices were already up more than 15% as of 1:45 p.m.…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news