<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000861177</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001745114</issuerCik>
        <issuerName>MOLECULAR PARTNERS AG</issuerName>
        <issuerCusip>60853G106</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>WAGISTRASSE 14</com:street1>
          <com:city>Z?RICH-SCHLIEREN</com:city>
          <com:stateOrCountry>V8</com:stateOrCountry>
          <com:zipCode>8952</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC</reportingPersonName>
      <citizenshipOrOrganization>V8</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2086452.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2144607.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2144607.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.8</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <comments>This filing is being submitted as of September 30, 2024.  As of this reporting date, the combined positions of UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, an aggregation unit within the Asset Management business division of UBS Group AG, were above the reportable threshold.  The delay resulted from an inadvertent data issue related to UBS / Credit Suisse systems integration, which has now been identified and resolved.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>MOLECULAR PARTNERS AG</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>WAGISTRASSE 14, Z?RICH-SCHLIEREN, SWITZERLAND, 8952</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>UBS Group AG</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>UBS Group AG
Bahnhofstrasse 45
PO Box CH-8021
Zurich, Switzerland</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Switzerland</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>2,144,607.00</amountBeneficiallyOwned>
        <classPercent>5.84</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>2,086,452.00</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>2,144,607.00</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Ownership of More than 5 Percent on Behalf of Another Person. Accounts managed on a discretionary basis by the UBS Asset Management division of UBS Group AG (UBS AM) have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities. To the best of our knowledge, no account holds more than 5 percent of the outstanding securities being reported in this filing.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>Identification: UBS Asset Management (Americas) LLC.
Classification: IA

In addition to UBS Group AG, the following UBS Asset Management affiliates and subsidiaries are part of the UBS Asset Management division included in this filing: UBS Asset Management (Europe) S.A., UBS Asset Management Switzerland AG, and UBS Fund Management (Switzerland) AG</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>UBS AM is composed of wholly-owned subsidiaries and branches of UBS Group AG. UBS Group AG is reporting direct and indirect beneficial ownership of holdings. None of the reporting persons affirm the existence of a group within the meaning of Rule 13d 5(b)(1).</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Andrew Johnson</signature>
        <title>Director</title>
        <date>07/17/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
