Molecular Templates (MTEM +7.6%) is up on below-average volume in response to its announcement that dosing is underway in a Phase 1 clinical trial conducted by collaboration partner Takeda Pharmaceutical Company (TAK -0.7%) evaluating TAK-169 in patients with relapsed/refractory multiple myeloma. The action triggers a $10M milestone payment to MTEM.
TAK-169 is a CD38-targeting engineered toxin body (ETB) based on MTEM technology. It is designed to target and kill CD38-expressing cells and to overcome the primary mechanisms of tumor resistance to Johnson & Johnson’s (JNJ -0.2%) CD38-targeting cytolytic antibody Darzalex (daratumumab) while avoiding competing for binding sites. As such, it may have potential for use in combo therapies that target CD38.
Takeda and MTEM inked their partnership agreement in September 2018.
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