Molecular Partners Reports Corporate Highlights from Q4 2020 and Key Financials for FY2020

Research & Development Highlights:

Initiated and rapidly advanced COVID-19 antiviral program into the clinic; secured collaboration with Novartis for co-development of multi-specific candidates MP0420 (ensovibep) and MP0423, including options for global commercialization; terms included potential total cash consideration of CHF 215 million, comprised of an upfront payment, equity purchase, and milestone, as well as 22% royalty on sales in commercial territories
Announced positive safety data from first dose cohort of ongoing phase 1 COVID-19 study which is on track to report data from all cohorts in Q1 2021
Announced intention to explore broader virology portfolio with focus on major global viral threats where unique therapeutic profile of DARPin^® antivirals could make major impact
Published new research in February 2021 showing ensovibep and MP0423 remain active against the major known mutations of SARS-CoV-2 including those present in variants first identified in the United Kingdom (UK), and South Africa (SA)

First-in-human data from ongoing phase 1 study of MP0310/AMG 506 demonstrate biological activity, including successful localized tumor engagement and saturation of tumor antigen at higher doses; optimization of dosing schedule ongoing in 2021
Achieved proof-of-biology and mechanism in clinical studies of MP0250 and MP0274, which have no further studies planned

Advanced CD3/T cell engager therapeutics platform to demonstrate both highly selective, potent/efficacious and targeted T cell engagement, context-dependent T cell engagement, and ‘slow release’ T cell engagement, giving multiple new levels of control over this powerful immunomodulatory mechanism
Validated peptide MHC (pMHC) therapeutics platform, with data demonstrating high potency, specificity and extended systemic half-life of research candidates, and the capacity to rapidly generate multiple candidates in parallel

Strong financial position with CHF 173.7 million in cash (including short-term deposits) as of December 31, 2020
Net cash used in operating activities of CHF 29.0 million in 2020
Operating loss of CHF 58.3 million and net loss of CHF 62.8 million in 2020
Company funded into 2023, excluding any potential payments from R&D partnerships
Talent base of 145 full-time employees at year-end 2020
Gwen Fyve has worked closely with the Board of Directors and has informed the team of her intent not to stand for re-election at upcoming Annual General Meeting on 21 April 2021