Day One Biopharmaceuticals has announced an exclusive licensing agreement with MabCare Therapeutics for MTX-13, a novel antibody-drug conjugate (ADC) targeting protein-tyrosine kinase 7 (PTK7).
Under the terms of the agreement, Shanghai-based MabCare will receive $55 million upfront and up to $1.152 billion in additional milestones, along with royalties on net sales outside Greater China. Day One aims to dose the first patient in a phase 1 study by late 2024 or early 2025.
The compound, now designated as DAY301, received IND clearance from the FDA in April 2024. It targets PTK7, a transmembrane protein highly expressed in various solid tumors, including esophageal, ovarian, lung, and endometrial cancers in adults, as well as pediatric cancers such as neuroblastoma and osteosarcoma. Preclinical studies have shown that DAY301 has significant antitumor activity, making it a promising candidate for treating both adult and pediatric cancers.
Day One Biopharmaceuticals, headquartered in Brisbane, California, focuses on developing targeted cancer therapies. The company’s pipeline includes recently approved tovorafenib (branded Ojemda) and pimasertib, currently in phase 1/2 trials.
ADCs work by combining the targeting ability of antibodies with the potent cell-killing power of chemotherapy drugs. This allows for the direct delivery of toxic agents to cancer cells, minimizing damage to healthy cells and potentially reducing side effects compared to traditional chemotherapy. The ADC market is rapidly growing, with several ADCs already approved by regulatory agencies worldwide and many more in clinical development.