EQS-Adhoc

Successful IPO for HBM portfolio company Monte Rosa Therapeutics

EQS Group-Ad-hoc: HBM Healthcare Investments AG / Key word(s): IPO Successful IPO for HBM portfolio company Monte Rosa Therapeutics 25-Jun-2021 / 06:45 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Monte Rosa Therapeutics (Nasdaq: GLUE), a private company in the portfolio of HBM Healthcare Investments, reached an important milestone in the company's development with yesterday's successful IPO on Nasdaq. By issuing 11.7 million shares at a price of USD 19.00 each, the company raised USD 222 million in new capital. On yesterday's first trading day, the share price rose to USD 21.18 (+11.5%).

HBM Healthcare Investments has invested USD 14 million in Monte Rosa in two financing rounds since September 2020 (investment previously valued at USD 18.8 million) and increased its stake by a further USD 7.6 million in the IPO. Following the IPO, HBM Healthcare Investments holds 2.2 million shares with a total value of USD 46.6 million.

Monte Rosa Therapeutics is developing a portfolio of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company has developed a proprietary protein degradation platform, called QuEEN(TM), that enables it to rapidly identify protein targets and molecular glue degrader (MGD) product candidates that are designed to eliminate therapeutically relevant proteins in a highly selective manner. The company's drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa is headquartered in Boston, USA,  with research operations in both Boston and Basel, Switzerland.