Oct. 17 Quick Takes: Monte Rosa gets $50M in molecular glue deal with Roche

Aiming to discover therapies against targets previously thought undruggable, Monte Rosa Therapeutics Inc. (NASDAQ:GLUE) and Roche (SIX:ROG; OTCQX:RHHBY) have entered a deal to create molecular glue degraders to treat cancer and neurological diseases. The biotech will receive $50 million up front; it is eligible for more than $2 billion in milestones, plus royalties. The partners may also expand the deal to include more targets. Less than a month ago, Roche’s Genentech Inc. unit entered a deal with Orionis Biosciences Inc. around molecular glues, reflecting continued pharma interest in the rapidly growing field.

Assembly Biosciences Inc. (NASDAQ:ASMB) will receive $100 million up front, more than its market cap, in a deal giving Gilead Sciences Inc. (NASDAQ:GILD) options to its current and future pipeline of antiviral therapies. The funding includes an $84.8 million payment plus a $15.2 million equity investment, giving Gilead a 19.9% stake; for each program, Assembly is eligible to receive a $45 million opt-in payment and $330 million in milestones, plus royalties. The partners will focus initially on herpesviruses, HBV and HDV, with Assembly advancing two preclinical herpesvirus programs under a license from Gilead. Assembly gained $0.52 (72%) to $1.25 Tuesday; its market cap had been under $40 million at Monday’s close...