Molecular Partners reports corporate highlights and key financials for H1 2020
Research & Development:
- Developed novel anti-COVID-19 multi-specific DARPin® candidates, of which MP0420 is being prepared for clinical trial initiation in Q4 2020. Initial in vitro and in vivo data highly supportive of unique mechanisms of action with ultra-potent anti-viral activity seen.
- Secured partnership with AGC Biologics to meet initial projected clinical and commercial-scale manufacturing capacity for anti-COVID-19 program.
- In August 2020, submitted a paper detailing the COVID-19 program R&D to the biology research preprint server bioRxiv including preliminary in vivo findings.
- Presented supportive data from the AMG 506 (MP0310), MP0317 and peptide-MHC immuno-oncology programs at the American Academy of Cancer Research Virtual Annual Meeting.
- Complete Response Letter received from U.S. FDA for abicipar pegol by strategic partner Allergan, an AbbVie Company. AbbVie to determine appropriate next steps with appropriate regulatory agencies.
- In August 2020, concluded recruitment of phase 1 study of MP0274 (including two Her2-targeting DARPin® molecules) in patients with progressive Her2-positive cancer.
- Appointed U.S. biotech executives Sandip Kapadia, Michael Vasconcelles, M.D., and Vito J. Palombella, Ph.D., to the Board of Directors at the Annual General Meeting of April 29, 2020.
- Ongoing strong financial position with CHF 64.4 million in cash and short-term deposits as of June 30, 2020
- In July 2020, received gross proceeds of CHF 80.2 million from share capital increase, ensuring financing into 2022
- Net cash outflow from operating activities of CHF 27.9 million in H1 2020
- FY 2020 expense guidance slightly increased to CHF 65-75 million (previously CHF 60-70 million)