Molecular Templates, Inc. Reports Fourth Quarter 2018
Molecular Templates, Inc. (Nasdaq: MTEM, “Molecular” or “Molecular Templates”), a medical-level oncology company focused at the discovery and improvement of the business enterprise’s proprietary engineered toxin our bodies (ETBs), which might be differentiated, centered, biologic therapeutics for cancer, nowadays suggested economic outcomes for the fourth region of 2018. As of December 31, 2018, Molecular’s cash and investments totaled $98 million and is anticipated to fund operations into the primary 1/2 of 2021.
“2018 changed into 12 months of important progress for Molecular Templates, marked through new scientific statistics for MT-3724, advancement of our preclinical pipeline, the CD38 partnership with Takeda, and a successful fairness financing,” said Eric Poma, Ph.D., Molecular Templates’ Chief Executive, and Scientific Officer. “In 2019, we’re excited to generate greater clinical statistics from more than one Phase II research with MT-3724, enhance MT-5111 and TAK-169 into the clinic, and document an IND for MT-6035, our PD-L1 ETB with antigen seeding. We also are targeted on business improvement activity to generate additional non-dilutive capital.”
Company Highlights and Upcoming Milestones
Molecular will present new information on its pipeline programs and technology platform in four posters on the American Association for Cancer Research (AACR) Annual Meeting 2019, to be held March 29 – Apr three, 2019 in Atlanta, Georgia. Presentations will feature facts on 1) CD38-focused ETB TAK-169, 2) CD20-focused ETB MT-3724 in mixture with chemotherapy or IMiDs, three) PD-L1-targeted ETB for direct free kill technique to PD-L1 expressing cancers, 4) Bispecific ETBs for focused cancer treatment.
On February 19, 2019, Molecular bolstered its senior management crew with the appointment of Roger J. Waltzman, M.D., as Chief Medical Officer. Dr. Waltzman is a board-licensed scientific oncologist with over 20 years of experience within the pharmaceutical and biotechnology industries and in medical practice/academia. His career highlights consist of 9 years in senior drug development roles at Novartis Pharmaceuticals Corporation, which includes six years in positions of increasing duty at Novartis Oncology (2007–2013). He played a central character within the development of exceptionally a hit Novartis branded oncology capsules, Glivec® (imatinib) and Jakafi® (ruxolitinib).
On November 9, 2018, Molecular provided a poster on its PD-L1 ETB with Antigen Seeding Technology (AST) application on the Society for Immunotherapy of Cancer’s (SITC) thirty-third Annual Meeting in Washington D.C. The poster, titled “Identification and Functional Profiling of PD-L1 Targeted Engineered Toxin Bodies for Antigen Seeding Technology (AST) and Redirection of T cellular Response to Tumors” summarized a sequence of preclinical experiments carried out by way of Molecular to create PD-L1 centered ETBs that have antigen seeding properties and to research the mechanisms through which they can kill cancer cells.