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Monte Rosa Therapeutics reported Phase 1 data Thursday morning for a Novartis-partnered program that the companies believe could change the treatment paradigm for some immune-mediated diseases. Though the data come from healthy volunteers, observers are keen to see whether the program known as MRT-6160 can affect certain immunological biomarkers while remaining safe. Other drug classes targeting the immune system, particularly JAK and interleukin inhibitors, can sometimes cause taxing side effects for patients. In the Phase 1 study, researchers tested MRT-6160 in 70 individuals across five single-ascending doses and three multiple-ascending doses. The program degraded a protein called VAV1 by greater than 90% in individuals’ peripheral T cells in all but the lowest dose cohorts, according to SEC documents. The results were also dose-dependent. Monte Rosa also measured VAV1 degradation in peripheral B cells, with MRT-6160 inducing “similar” results to the T cell data — although the company did not report specific figures. On an investor call Thursday morning, Monte Rosa executives were asked how the results might translate to patients, given that the Phase 1 came from ex vivo stimulation of healthy volunteers’ blood cells. CEO Markus Warmuth said it would depend on the disease but the company is confident in how MRT-6160 hit its biomarkers. Following the Phase 1 trials, Novartis is expected to take over development and decide which diseases to test Phase 2. Preparation for Phase 2 studies is ongoing. Warmuth said the final decision on which diseases to test MRT-6160 in Phase 2 has not been made, but hinted at where Monte Rosa and Novartis see the most potential. “We had a very strong preclinical data in [ulcerative colitis], very interesting data in rheumatoid arthritis,” Warmuth said. “There’s related diseases you could think about.” MRT-6160 is designed to target VAV1, which works downstream of T cell and B cell receptors, according to Monte Rosa. The idea is to reduce cytokine proteins that fuel autoimmune conditions when modulated. The data also provide an early snapshot into the potential of molecular glues. The space has grown significantly in the last 18 months, with at least 10 licensing deals signed between biotech and pharma partners. Novartis paid Monte Rosa $150 million upfront for full rights to MRT-6160 in the largest upfront payment for a molecular glue deal in that time frame . Jefferies analyst Kelly Shi previewed the data in a Sunday note, saying the expectation heading into Thursday was VAV1 degradation of about 80%, as well as reducing certain biomarker expression by at least 70%. Such a profile, Shi wrote, could “support its early potential” in both rheumatoid arthritis and inflammatory bowel disease. The four main biomarkers Shi highlighted were CD69, IL-2, IL-6, and IL-17, with the latter three implicated in AbbVie’s JAK inhibitor Rinvoq. IL-17 in particular plays an important role in ulcerative colitis. Another experimental drug, Merck and Prometheus’ anti-TL1A program MK-7240, showed a 50% reduction in IL-17 for IBD patients in a Phase 2 study. Results from the trial showed that in CD69, MRT-6160 suppressed regulation by greater than 90% in certain doses, Monte Rosa said. The program also inhibited IL-2, IFN-γ and IL-17A “by up to 99%.” IL-6 levels were between 60% and 90%. Safety data indicated all side effects were mild or moderate. Monte Rosa’s stock price $GLUE was volatile premarket, going up about 6% and then falling as much as 16% Thursday morning. After the market opened, shares were up about 8%. Separately, Monte Rosa released new Phase 2 data for an oncology program called MRT-2359, which it is developing in-house. This molecular glue aims to degrade the GSPT1 protein in the hopes of improving outcomes for cancer patients with tumors driven by what are known as MYC transcription factors. So far, researchers tested the program in 59 patients with MYC-related malignancies. They found that, among 37 evaluable patients, MRT-2359 induced one partial response in a patient with MYC biomarkers. There was also one unconfirmed partial response in an individual who was biomarker negative. Monte Rosa is opting to deprioritize most indications. Warmuth noted on the call that the partial response occurred in a patient with neuroendocrine bladder cancer. The patient had “extremely high expression” of MYC biomarkers. The lead indication for MRT-2359 will now be castration-resistant prostate cancer, and all lung cancer work will be shelved. Monte Rosa will still enroll patients with HR+ breast cancer. Additional data will be available for both prostate and breast cancer in the second half of the year. Monte Rosa does not yet have data from prostate cancer patients, Warmuth said, because it hasn’t received clear biopsies. When the company reports data later this year, Warmuth said he hopes there will be results from 20 to 30 prostate cancer patients. Monte Rosa also reported its full-year and fourth-quarter earnings Thursday morning, saying its cash runway will extend into 2028. Editor’s note: This article was updated to include additional information from Monte Rosa’s investor call on Thursday morning.