Molecular Templates rockets on news of $660 million+ deal with Japanese pharma major

20 September 2018

Texas, USA-based Molecular Templates (Nasdaq: MTEM) saw its share surge 54.22% to $6.25 by close of trading on Wednesday after is announced a potentially lucrative deal with Japan’s largest pharma company.

Molecular said it has signed an agreement with Takeda Pharmaceutical (TYO: 4502) for the joint development of CD38-targeted engineered toxin bodies (ETBs) for the treatment of patients with diseases such as multiple myeloma. The lead development candidate is a CD38-targeted ETB that resulted from a previous discovery collaboration between the two companies.

The parties developed preclinical stage ETBs targeting CD38 under the prior discovery collaboration. Takeda and Molecular will further develop the ETBs for the treatment of multiple myeloma under this new license, development and commercialization agreement.

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