Monte Rosa Therapeutics Announces Addition to Russell 2000® and Russell 3000® Indexes

Rhea-AI Summary

Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) announced its addition to the Russell 2000® and Russell 3000® Indexes, effective Sept. 20, 2021. This milestone follows their successful IPO and enhances the company's visibility within the investment community. Russell indexes, which manage approximately $10.6 trillion in assets, are crucial for investment managers and benchmark strategies. Monte Rosa focuses on developing novel molecular glue degrader precision medicines through its proprietary QuEEN™ platform, leveraging AI and machine learning for drug discovery.

Positive

• Monte Rosa's addition to Russell 2000 and Russell 3000 Indexes enhances its visibility among institutional investors.
• The company successfully completed its IPO, which indicates strong market confidence.

Negative

• None.

BOSTON, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE), a biotechnology company developing novel molecular glue precision medicines, today announced that it will be added to the Russell 2000® and Russell 3000® Indexes as part of second quarter initial public offering additions, effective Sept. 20, 2021. The stock will also be automatically added to the appropriate growth and value indexes.

“On the heels of our successful IPO, the addition of Monte Rosa to the Russell 2000 and Russell 3000 Indexes serves as a significant milestone for the company as we advance our pipeline of novel molecular glues and continue the development of our unique and proprietary QuEEN^TM platform,” said Ajim Tamboli, CFA, Chief Financial Officer. “We are pleased to be part of the Russell indexes and look forward to broadening our visibility within the investment community.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell Indexes, please visit the FTSE Russell website at www.ftserussell.com.
        
About Monte Rosa
Monte Rosa Therapeutics is a biotechnology company developing a portfolio of novel molecular glue degrader precision medicines. These medicines are designed to employ the body’s natural mechanisms to selectively eliminate therapeutically relevant proteins. The company has developed a proprietary protein degradation platform, called QuEEN™ (Quantitative and Engineered Elimination of Neosubstrates), that enables it to rapidly identify protein targets and molecular glue degrader, or 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, AI/machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa was launched from founding investor Versant Ventures’ Ridgeline Discovery Engine and is headquartered in Boston, Mass., with research operations in both Boston and Basel, Switzerland. 

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

Contacts:

Investors
Michael Morabito, Solebury Trout
ir@monterosatx.com

Media
Dan Budwick, 1AB
dan@1abmedia.com 

FAQ

What does Monte Rosa Therapeutics do?

Monte Rosa Therapeutics develops novel molecular glue degrader precision medicines using its QuEEN™ platform.

When will Monte Rosa be added to Russell indexes?

Monte Rosa will be added to the Russell 2000 and Russell 3000 Indexes on Sept. 20, 2021.

What is the significance of being added to the Russell Indexes for Monte Rosa?

Being added to the Russell Indexes increases Monte Rosa's visibility and credibility in the investment community.

How much assets are benchmarked against Russell indexes?

Approximately $10.6 trillion in assets are benchmarked against Russell's U.S. indexes.