Monte Rosa Therapeutics Appoints Dr. Jan Skvarka to Board of Directors

Rhea-AI Summary

BOSTON, March 23, 2023 — Monte Rosa Therapeutics (NASDAQ: GLUE) announced the appointment of Jan Skvarka, Ph.D., MBA, to its Board of Directors. Dr. Skvarka brings over 30 years of experience in biopharmaceuticals, including leadership roles in clinical-stage companies. His tenure includes transforming Trillium Therapeutics from a $16 million market cap to a $2.3 billion acquisition by Pfizer within two years. Monte Rosa emphasizes its commitment to developing innovative molecular glue degrader medicines targeting serious diseases, leveraging its QuEEN™ platform. This appointment is viewed as a strategic move to advance its clinical and corporate objectives.

Positive

• Appointment of Jan Skvarka brings over 30 years of biopharmaceutical experience.
• Dr. Skvarka's previous success in transforming Trillium Therapeutics indicates strong leadership potential.
• Strengthened Board expected to enhance strategic direction for Monte Rosa's innovative therapies.

Negative

• Concerns about continuity and experience gaps within the Board following Dr. Skvarka's appointment.

BOSTON, March 23, 2023 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE), a clinical stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today announced the appointment of Jan Skvarka, Ph.D., MBA to its Board of Directors. Dr. Skvarka is an accomplished biopharmaceutical executive bringing over three decades of extensive operational, strategic and financial expertise to the Board.

"We are delighted to have Dr. Skvarka join our Board of Directors, bringing his extensive experience as a life sciences leader to the team," said Markus Warmuth, M.D., CEO of Monte Rosa. "Having served as the CEO of two clinical-stage companies, Jan has demonstrated remarkable abilities in driving clinical programs, shaping and executing on corporate and clinical strategies, and establishing strong relationships with key industry players. This impressive combination of skills and expertise will be instrumental to us as we continue to progress the development of our innovative molecular glue degrader pipeline into indications
with high unmet medical need and continue to build value for our stakeholders.”

Dr. Skvarka currently serves as the Executive Chairman of DEM BioPharma, Inc., and as a Board Member of Zentalis Pharmaceuticals, Inc. Previously, Jan was President and Chief Executive Officer of Trillium Therapeutics, Inc., a publicly traded, clinical-stage immuno-oncology company, where he led a highly successful business transformation that produced a leading CD47 drug candidate, propelling Trillium from a $16 million market capitalization to a $2.3 billion acquisition by Pfizer Inc. in two years. Before Trillium, Dr. Skvarka served as the President and Chief Executive Officer of Tal Medical, a private clinical-stage neuromodulation company, and as a Partner in the Healthcare Practice at Bain & Company, a leading global strategy consultancy. Dr. Skvarka received a Ph.D. in economics from the University of Economics in Bratislava, Slovakia, and an MBA from Harvard Business School.

“Monte Rosa has made impressive strides in a short period of time, establishing a strong scientific foundation and building a comprehensive portfolio of clinical and preclinical programs. I believe its MYC-focused MRT-2359 program, as well as the preclinical programs in oncology, inflammation and immunology have a broad therapeutic potential,” said Dr. Skvarka. “I look forward to working with the leadership team as they execute on the Company’s corporate and clinical strategic objectives, to bring differentiated and transformational targeted MGD therapies to patients.”

About Monte Rosa
Monte Rosa Therapeutics is a biotechnology company developing novel molecular glue degrader (MGD) medicines for patients living with serious diseases such as oncology, autoimmune and inflammatory diseases. MGDs are small molecule protein degraders designed to employ the body’s natural mechanisms to selectively eliminate therapeutically relevant proteins. The Company’s QuEEN™ (Quantitative and Engineered Elimination of Neosubstrates) platform enables it to rapidly identify protein targets and design highly selective degraders by combining diverse libraries of proprietary MGDs with in-house proteomics, structural biology, AI/machine learning, and computational chemistry capabilities. For more information, visit www.monterosatx.com

Forward-Looking Statements
This communication includes express and implied “forward-looking statements,” including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements include all statements that are not historical facts, and in some cases, can be identified by terms such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward-looking statements contained herein include, but are not limited to, statements about our product development activities, including expectations around the advancement of our pipeline and the various products therein and their therapeutic potential. By their nature, these statements are subject to numerous risks and uncertainties, including those risks and uncertainties set forth in our most recent Annual Report on Form 10-K for the year ended December 31, 2022 filed with the US Securities and Exchange Commission, and any subsequent filings, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements. You should not rely upon forward looking statements as predictions of future events. Although our management believes that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, any future presentations or otherwise, except as required by applicable law.

Investors
Shai Biran, Monte Rosa Therapeutics
ir@monterosatx.com

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

FAQ

What is the significance of appointing Jan Skvarka to the Board of Monte Rosa (GLUE)?

His extensive experience in biopharmaceuticals and previous success with Trillium Therapeutics could positively influence Monte Rosa's strategic direction.

How might Dr. Skvarka's appointment impact Monte Rosa Therapeutics (GLUE)?

Dr. Skvarka's leadership may bring fresh perspectives to advance Monte Rosa's clinical programs and corporate strategies.

What prior experience does Jan Skvarka have relevant to his role at Monte Rosa (GLUE)?

He has been CEO of two clinical-stage companies and was instrumental in Trillium's rapid growth and acquisition by Pfizer.

What specific goals does Monte Rosa aim to achieve following Dr. Skvarka's appointment?

The company aims to advance its molecular glue degrader pipeline to address high unmet medical needs.