Molecular Partners (MOLN) TD Cowen 2nd Annual Radiopharmaceutical Innovation Summit summary

Platform and technology overview

• DARPins are engineered mini-proteins derived from ankyrin repeat proteins, offering small size, high solubility, and deep tissue penetration, which are advantageous for radiopharmaceutical applications.

• The platform has evolved over 20 years, with recent advances enabling longer half-lives and improved engineering for radiotherapeutic use.

• Surface engineering and half-life optimization have addressed challenges such as kidney retention and tumor uptake.

• DARPins' stability allows for robust manufacturing processes, including heat steps and harsh radiolabeling conditions.

Partnerships and pipeline development

• Collaborations include Novartis (two undisclosed targets) and Orano Med (radioisotope supply and joint development), alongside an internal pipeline.

• The Orano Med partnership is a 50/50 collaboration, with exclusive access to lead-212 and a scalable, reliable isotope supply.

• Novartis partnership includes $20 million upfront, up to $560 million in milestones, and double-digit royalties, focusing on challenging targets.

• Internal pipeline targets remain undisclosed, with plans to reveal more in the second half of the year.

Lead clinical candidate: MP0712

• MP0712 targets DLL3, a validated target in small cell lung cancer, using a DARPin conjugated to lead-212 via a DOTAM chelator.

• Preclinical data show high tumor uptake (30-60%) and favorable tumor-to-kidney ratios, with plans for first-in-human studies in 2025.

• Mouse studies indicate strong efficacy and safety, supporting advancement to clinical development.

• The phase 1 trial will include imaging and dose escalation, with potential for early imaging data in 2025.