Day One Biopharmaceuticals in pact with MabCare for MTX-13 targeting PTK7

DayOne Biopharmaceuticals announced it has entered into an exclusive licensing agreement with MabCare Therapeutics MabCare for MTX-13, a novel ADC targeting protein-tyrosine kinase 7 PTK7 . Pursuant to the terms of the Agreement, Day One has exclusive rights to develop, manufacture, and commercialize MTX-13 worldwide, excluding Greater China. In April 2024, the U.S. Food and Drug Administration cleared the investigational new drug application for MTX-13, which going forward will be identified as DAY301. In pre-clinical studies, DAY301 showed antitumor activity in a wide range of solid tumors “Our priorities for 2024 are to successfully launch OJEMDA tovorafenib , to advance our existing programs and to expand our pipeline by in-licensing clinical-stage assets that have the potential to transform outcomes for patients of all ages living with cancers,” said Jeremy Bender, Ph.D., chief executive officer of Day One. “We are excited by the opportunity presented by DAY301, and we believe we have the right team in place to develop the program to its full potential.”Under the terms of the licensing agreement, MabCare will receive $55M upfront, and is eligible to receive an additional $1.152B in development, regulatory and commercial success-based milestones, plus low-to-mid single-digit royalties on net sales outside of Greater China. Day One expects the first patient to be dosed in the Phase I study in the fourth quarter of 2024 or first quarter of 2025