Fierce Biotech June 18, 2024
Day One Biopharmaceuticals is offering MabCare Therapeutics up to $1.2 billion for exclusive licensing rights to an antibody drug conjugate (ADC) taking aim at solid tumors in both adults and kids.
Day One has paid out $55 million upfront for development and commercialization rights to DAY301—originally known as MTX-13—excluding the Greater China area, where MabCare is based.
In turn, MabCare has the chance to bank an additional $1.15 billion in development and commercial milestones, plus single-digit royalties.
DAY301 is an ADC targeting protein-tyrosine kinase 7 (PTK7), which is overexpressed in esophageal, ovarian, lung and endometrial cancers among adults, as well as in neuroblastoma, rhabdomyosarcoma and osteosarcoma in children.
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