Day One targets the growing ADC market with MabCare acquisition [Yahoo! Finance]
Genmab A/S - American Depositary Shares (GMAB)
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Source: Yahoo! Finance
The Brisbane, California-based biotech company is paying out $55m upfront for the novel ADC targeting protein-tyrosine kinase 7 (PTK7). Under the terms of the agreement, Day One has exclusive rights to develop, manufacture and commercialise MTX-13 worldwide, excluding Greater China. MabCare is eligible to receive an additional $1.15bn in development, regulatory and commercial success-based milestones, plus low-to-mid single-digit royalties on net sales outside of Greater China. The US Food and Drug Administration (FDA) cleared the investigational new drug application for MTX-13 – now dubbed DAY301 – in April 2024. According to the companies, DAY301 has shown anti-tumour activity in a wide range of solid tumours in preclinical studies. The first patient is expected to be dosed in an upcoming Phase I study at the end of this year or the start of 2025. Day One secured its first FDA approval in April 2024 for Ojemda (tovorafenib), an oral, brain-penetrant, type II RAF kinase inhibito
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