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MabCare Out-Licenses PTK7 ADC to Day One Biopharma in $1.2 Billion Deal

publication date: Jun 20, 2024

Shanghai MabCare Therapeutics out-licensed global rights (ex-China) for its ADC targeting protein-tyrosine kinase 7 (PTK7) candidate to Day One Biopharma, a San Francisco area company, for $55 million upfront and $1.15 billion in milestones. MabCare is also eligible for low-to-mid single-digit royalties. The deal is Day One’s first foray into ADCs. The US FDA approved an IND for MTX-13 (now known as DAY30) earlier this year. MabCare said the candidate showed efficacy against solid tumors in preclinical testing. Day One expects to start US trials at the end of 2024. More details....

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