Molecular Partners reports key financials for FY 2019 and corporate highlights from Q4 2019

Research & Development:

  • Abicipar in Neovascular Wet Age-Related Macular Degeneration:
    • Two-year results from CEDAR and SEQUOIA presented at AAO in October 2019 demonstrate that vision gains observed after one year with both, every 8-week and every 12-week dosing were maintained in second year
    • FDA and EMA filings accepted and under review
  • MP0250 (VEGF x HGF) in Multiple Myeloma:
    • Updated data presented at ASH in December show long-lasting and deepening responses in patients with relapsed/refractory disease
    • U.S. FDA Orphan Drug Designation received in December 2019
    • Previously planned clinical trial investigating MP0250 in combination with an IMiD will not be initiated, in alignment with company’s corporate strategy to pursue combination data in collaboration with a partner
  • MP0310 / AMG 506 (FAP x 4-1BB): Dose escalation ongoing; current clinical timelines on track with additional clinical updates expected in H2 2020
  • MP0317 (FAP x CD40): Tumor-localized immune agonist nominated as second DARPin® protein in company’s immuno-oncology pipeline
  • Research: Progress continues on novel therapeutic designs including
    • tumor-localized immune-cell agonists,
    • peptide-MHC complex DARPin® binders, and
    • next-generation immune cell engagers

Financial Highlights:

  • Strong financial position with CHF 95.1 million in cash (incl. short-term deposits) as of December 31, 2019
  • Net cash used in operating activities of CHF 1.2 million in 2019 – Upfront free from Amgen (USD 50 million) reflected the majority of our investments into the pipeline
  • Operating loss of CHF 37.2 million and net loss of CHF 36.8 million in 2019
  • Company funded into H2 2021, one year beyond expected FDA decision regarding Abicipar
  • Talent base of 135 full-time employees at year-end 2019 (+15% year-on-year),
    reflective of growth of the company and its pipeline

Media release