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Monte Rosa Therapeutics has launched with $32.5 million in funding from Versant Ventures and New Enterprise Associates. The Boston-based firm designs small molecules that modulate the activity of ubiquitin ligases, prompting unwanted proteins to be broken down. Monte Rosa, which was incubated in Versant’s Ridgeline laboratories, says it expects to begin clinical studies of one or more ubiquitin ligase–reprogramming drugs in 2021. It plans to raise its next round of funding soon to support the trials.
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