Day One licenses PTK7-targeting ADC from MabCare

Day One Biopharmaceuticals has announced a significant licensing deal with MabCare Therapeutics for an innovative antibody-drug conjugate (ADC) known as MTX-13. This compound, now referred to as DAY301, specifically targets the protein-tyrosine kinase 7 (PTK7). Under the agreement, MabCare, headquartered in Shanghai, will receive an upfront payment of $55 million. They are also eligible for up to $1.152 billion in additional milestone payments, alongside royalties on net sales outside the Greater China region. Day One Biopharmaceuticals plans to initiate a phase 1 clinical trial by the end of 2024 or the beginning of 2025.

DAY301, which received Investigational New Drug (IND) clearance from the FDA in April 2024, is designed to target PTK7. This transmembrane protein is notably present in various solid tumors such as esophageal, ovarian, lung, and endometrial cancers, along with pediatric cancers like neuroblastoma and osteosarcoma. Preclinical trials have demonstrated that DAY301 exhibits substantial antitumor activity, positioning it as a promising treatment for both adult and children's cancers.

Based in Brisbane, California, Day One Biopharmaceuticals specializes in creating targeted therapies for cancer. Their product pipeline features the recently approved drug tovorafenib, sold under the brand name Ojemda, and another drug, pimasertib, which is currently undergoing phase 1/2 clinical trials.

ADCs leverage the precision of antibodies combined with the powerful cell-killing effects of chemotherapy drugs. This targeted approach allows for the precise delivery of toxic agents directly to cancer cells, thereby reducing collateral damage to healthy cells and potentially lowering side effects compared to conventional chemotherapy. The market for ADCs is experiencing rapid growth, with several such drugs already approved by regulatory bodies worldwide and many more in various stages of clinical development.