In today’s world, all eyes are focused on the pharmaceutical companies that are working tirelessly to discover an effective preventative or treatment for the COVID-19 virus. Many companies and organizations around the globe have pivoted away from previous work in order to join the race to beat COVID. Others, however, like our client Monte Rosa Therapeutics, remain laser-focused on their original goals.
These are goals worth focusing on. Since the company’s inception in 2018, the scientists at Monte Rose Therapeutics have made major strides toward finding a cure for certain cancers and other diseases through their work with small molecule degraders, also known as molecular glues. Originally funded by Versant Ventures and New Enterprise Associates, Monte Rosa was the second newco to be launched by Ridgeline Discovery Engine in Basel, Switzerland. Early in 2020, a new Boston location was established, and Markus Warmuth, M.D. was named CEO. The following May, the company exited stealth mode with $32.5 million in Series A funding. Just this past Friday they announced an additional 96 million in Series B funding to support pipeline development.
Monte Rosa seeks to build on work by Rejesh Chopra and Ian Collins (Institute of Cancer Research UK), and Nicolas Thomä (Friedrich Miescher Institute for Biomedical Research) to create a therapy to combat currently undruggable forms of cancer and other serious diseases. Per the company website, Monte Rosa’s “rational approach in targeting disease-causing proteins for degradation will deliver pioneering therapies for cancer and beyond… Many approved drugs have been developed to inhibit a protein’s function. Monte Rosa’s goal is to eliminate the protein altogether.”
BioProcure became the procurement and accounts payable support service provider for Monte Rose this past June. And while we don’t pretend to know much about ubiquitin ligases or proteolysis, we are experts at saving our clients time, money, and energy. As we like to say here at BioProcure, we have procure-to-pay down to a science! With the help of Prendio, a software solution that we hand-tailored to meet the specific needs of our clients in the biotech and pharmaceutical research industries, our team of procurement, customer service, and accounts payable specialists work hard to lift the burden of supply and service issues from the scientists we support. Our clients don’t need to spend time searching for the best prices, getting quotes, or doing research into whether Covid-19 backorders will affect their supply chain. They don’t need to worry about credit holds caused by invoices that have been misplaced or not processed in a timely manner getting in the way of scientists receiving the supplies that are vital to their experiments. Instead, our team implements our unique proven process so that yours doesn’t have to reinvent the wheel. This translates into more time spent in the lab, which is a great thing for our clients, and for the many people worldwide who are living with the diseases that the organizations we serve are striving diligently to treat and cure.
In addition to their team of world-renowned scientists and field experts, Monte Rosa now has the administrative support of our dedicated specialists and the assurance that our proven process will keep many of their day-to-day business operations running smoothly and efficiently. We are pleased and excited to be able to play a small role in taking Monte Rosa’s cutting-edge therapies from concept to market.
Thank you for your hard work and commitment to discovering new cures, Monte Rose Therapeutics! The whole team at BioProcure looks forward to cheering you on and supporting you as you continue to make strides to combat some of the most serious diseases that affect us.
If you are interested in learning more about Monte Rosa Therapeutics and the work they are doing on targeted protein degradation, please visit their website at www.monterosatx.com
If you are interested in reading about BioProcure’s proven procure-to-pay process, you can find more information by visiting www.bioprocure.com/services
If you are interested in finding out more about our customized procure-to-pay software solution, visit www.prendio.com for more information.