Molecular Partners Publishes Invitation to Annual General Meeting 2021

Molecular Partners Publishes Invitation to Annual General Meeting 2021

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Zurich-Schlieren, Switzerland, March 26, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, today published the invitation to the Annual General Meeting 2021.

The Annual General Meeting will be held on Wednesday, April 21, 2021, 2.00 pm CET, at the registered office of Molecular Partners AG, Wagistrasse 14, 8952 Schlieren, Switzerland.

In view of the current pandemic situation and in accordance with the applicable COVID-19 regulations, the Board of Directors of Molecular Partners AG has decided to conduct the Annual General Meeting without the physical presence of shareholders.

The Board of Directors greatly regrets that this decision was without alternative. As a result, shareholders of Molecular Partners AG may exercise their rights at the Annual General Meeting exclusively via written or electronically submitted instructions to the independent proxy.

  • Invitation to the Annual General Meeting 2021 with the corresponding agenda items
  • Einladung zur Generalversammlung 2021 mit den zugehörigen Traktandenpunkten

 

Financial Calendar

21 April 2021                      Annual General Meeting

12 May 2021                       Interim Management Statement Q1 2021

26 August 2021               Publication of Half-year Results 2021 (unaudited)

This calendar is always viewable at this link.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information.

Molecular Partners Nominates Dominik Höchli, M.D., for Election to its Board of Directors

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  • Pharmaceutical industry expert with extensive knowledge of R&D and commercialization

Zurich-Schlieren, Switzerland, March 25, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, today announced the nomination of Dominik Höchli, M.D., to the Company’s Board of Directors proposed for election at the 2021 Annual General Meeting on April 21, 2021.

“As Molecular Partners continues to welcome a diverse set of talents to our company, we are pleased to propose Dominik for election to our Board of Directors. With an extensive skill set including global medical affairs, commercialization, and business strategy, we view Dominik as a welcomed addition to our Board, and look forward to his participation in the future success of our Company,” said Bill Burns, chairman of the Molecular Partners Board of Directors.

Dominik has 20 years of experience as a marketing and medical affairs executive. Until 2020 he worked at AbbVie as Vice President, Head of Global Medical Affairs and member of the R&D and the Commercial leadership team. He led global product launches for major blockbuster products, including HUMIRA, Maviret, Venetoclax and Skyrizi, and his leadership experience ranges from smaller country organizations and large global functions. He began his corporate career at McKinsey & Co. Dominik is a Swiss national and obtained his medical degree (M.D.) from the University of Bern.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information.

Molecular Partners Announces Intention to Conduct a Registered Offering in the United States

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Zurich-Schlieren, Switzerland, March 22, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, today announced that it plans to conduct a registered public offering of its ordinary shares, in the form of American Depositary Shares (“ADSs”), in the United States and has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission (the “SEC”). The timing, number of ADSs to be issued and the price of the ADSs to be issued in the proposed public offering have not yet been determined.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Molecular Partners and Novartis Announce Inclusion of COVID-19 Antiviral Candidate, ensovibep, in NIH-Sponsored ACTIV-3 Trial

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  • ACTIV-3 trial planned to investigate safety and efficacy of ensovibep in adults hospitalized with a COVID-19 diagnosis; first patient dose expected in Q2 2021
  • Ensovibep to be first non-antibody therapeutic assessed in ACTIV-3
  • Clinical trial includes an interim analysis after 300 patients
  • Separately, a global Phase 2-3 study in adults with mild to moderate symptoms is planned to be initiated in Q2 2021
  • Initial Phase 1 data support safety, tolerability and 2-3 week half-life of ensovibep

Zurich-Schlieren, Switzerland, March 15, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, and its collaborator Novartis, today announced that ensovibep (formerly MP0420) is expected to be included in a global phase 3 randomized, controlled clinical trial as part of the National Institutes of Health’s (NIH) Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) program. The trial, ACTIV-3, is designed to evaluate the safety and efficacy of various therapies for the treatment of adults hospitalized with a COVID-19 diagnosis. Ensovibep is a DARPin® therapeutic candidate designed to bind to the receptor-binding domain (RBD) of the SARS-CoV-2 spike protein at three distinct locations to prevent viral entry into cells, and may provide added protection against variant strains.

“The NIH’s ACTIV-3 trial provides a major expansion of ensovibep’s clinical program and data collection, and recognizes the clinical and preclinical evidence we have delivered to-date supporting this candidate as a differentiated approach to COVID-19 treatment,” said Patrick Amstutz, Ph.D., chief executive officer of Molecular Partners. “Emerging variant strains and the challenges of vaccinating a global population create an ongoing need for effective antivirals to save lives. We will work closely with both our collaborator Novartis and the NIH to maximize support on this trial in parallel with the other clinical trials of ensovibep planned to initiate in the second quarter.”

ACTIV-3 is one of multiple ongoing trials in the NIH’s ACTIV program, a public-private partnership designed to speed development of the most promising treatments and vaccine candidates for COVID-19. In order to be selected for ACTIV-3, Molecular Partners provided the NIH with relevant data and in addition provided ensovibep for independent preclinical assessments by the NIH. Molecular Partners has recently submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for ensovibep.

Ensovibep is currently being evaluated in a Phase 1, randomized, double-blind, placebo-controlled single ascending dose study to evaluate the safety, tolerability, and pharmacokinetics of intravenously administered ensovibep. Initial data from this study, run by Molecular Partners, indicate that ensovibep is well tolerated with a half-life in the range of 2-3 weeks.

In partnership with Novartis, Molecular Partners expects the initiation of additional clinical studies of ensovibep to initiate throughout the first half of 2021 with the goal of achieving clinical proof-of-concept and potential emergency use authorization within 2021. The intended clinical program includes a smaller Phase 2 trial specifically evaluating the ability of ensovibep to reduce infectivity, as well as a global Phase 2-3 study (EMPATHY), which will seek to enroll more than 2,000 patients in the ambulatory setting to evaluate the ability of ensovibep to prevent disease worsening, hospitalizations and death.

ACTIV-3 Clinical Trial Design

Once initiated, the ACTIV-3 trial arm evaluating ensovibep would initially enroll 300 participants who have been hospitalized with mild to moderate COVID-19 with fewer than 13 days of symptoms, who will receive either ensovibep or placebo. Participants will also receive standard of care for COVID-19, including the FDA-approved antiviral remdesivir. Five days after dosing, participants’ clinical status will be assessed, based on need for supplemental oxygen, mechanical ventilation, or other supportive care. If the ensovibep treatment arm appears to have a positive benefit:risk profile, the trial will enroll an additional 700 participants. Trial participants will be followed for 90 days following enrollment to analyze their response to treatment. The primary efficacy endpoint is the time from randomization to participants’ sustained recovery for 14 days after release from the hospital.

 

About Molecular Partners’ anti-COVID-19 program

Molecular Partners’ two antiviral DARPin® candidates, ensovibep and MP0423, are designed to target multiple different sites on the SARS-CoV-2 virus simultaneously for enhanced antiviral effects and potential use as both prophylactics and treatments. The benefits of this multi-specificity include cooperative binding, extremely high potencies and potential prevention of viral ‘escape’ via mutations. The candidates are formatted with a DARPin® domain that binds to human serum albumin (HSA) to support a longer half-life and hence longer activity. All DARPin® candidates are constructed to benefit from high-yield and low-cost microbial manufacturing. Molecular Partners is investigating whether the high thermal stability of DARPin® molecules can be used to overcome cold-chain requirements.

In March 2021, the Company announced positive initial data from its Phase 1 study of ensovibep in healthy volunteers, which showed that ensovibep was safe and well-tolerated with a half-life of 2-3 weeks. In October 2020, Molecular Partners entered into a collaboration with Novartis AG in the form of an option and license agreement to develop, manufacture and commercialize Molecular Partners’ anti-COVID-19 DARPin® candidates. Per the terms of the agreement, Molecular Partners will conduct Phase 1 clinical trials for ensovibep and perform all remaining preclinical work for MP0423; Novartis will conduct Phase 2 and Phase 3 clinical trials, with Molecular Partners as sponsor of those trials. Upon option exercise, Novartis would be responsible for all further development and commercialization activities. Molecular Partners is also collaborating with AGC Biologics, Baccinex, and Ivers-Lee Clinical Supply Management (IL-CSM) to support development of its anti-COVID-19 program, and has reached an agreement with the Swiss Government regarding rights to purchase up to 3.2 million doses of ensovibep, if it is approved in Switzerland.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

About Novartis

Novartis is reimagining medicine to improve and extend people’s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world’s top companies investing in research and development. Novartis products reach nearly 800 million people globally and we are finding innovative ways to expand access to our latest treatments. About 110,000 people of more than 140 nationalities work at Novartis around the world. Find out more at https://www.novartis.com.

Novartis is on Twitter. Sign up to follow @Novartis at https://twitter.com/novartisnews
For Novartis multimedia content, please visit https://www.novartis.com/news/media-library

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Molecular Partners Nominates Agnete Fredriksen for Election to its Board of Directors

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  • Acknowledged innovation leader with deep scientific and business expertise in immunotherapy, oncology and infectious diseases

Zurich-Schlieren, Switzerland, March 11, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, today announced the nomination of Agnete Fredriksen, Ph.D., to the Company’s Board of Directors proposed for election at the 2021 Annual General Meeting on April 21, 2021.

“We are pleased to propose Agnete for election to our Board of Directors during a time of growth and development for Molecular Partners, as we lay the foundations for an infectious diseases portfolio and new technologies for next-generation cancer immunotherapies to fruition,” said Bill Burns, chairman of the Molecular Partners Board of Directors. “We look forward to benefiting from her breadth of expertise across our deepening portfolio as we continue to expand the capabilities of our DARPin® platform.”

Agnete Fredriksen, Ph.D., is a co-founder, president and chief scientific officer of Vaccibody AS, a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel immunotherapies for cancer and infectious diseases. With prior roles at Affitech AS and Medinnova AS, Agnete’s focus is on developing vaccines from idea to clinical development. She is the author of numerous scientific papers in the field of immunology, immunotherapy and vaccines, and has been awarded several patents in the field of immunotherapy. She holds an MSc and a Ph.D. from the Institute of Immunology, Rikshospitalet Medical Center in Oslo, Norway.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Molecular Partners to Present Data from Localized Immune Agonist (MP0317), T-cell Engager, and Peptide-MHC Immunotherapy Programs at AACR Annual Meeting

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Zurich-Schlieren, Switzerland, March 10, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, today announced the upcoming presentation of four posters with data supporting three of the company’s immunotherapy programs at the American Academy for Cancer Research (AACR) Virtual Annual Meeting running April 10-15, 2021.

The accepted research describes multiple aspects of validation for the unique mechanisms of these therapies in development for treating a wide range of tumor types.

Accepted abstract titles include:

MP0317 (targeting CD40 and FAP)

  • MP0317, a FAPxCD40 targeting multi-specific DARPin® therapeutic, drives immune activation and leads to macrophage repolarization in vitro and ex vivo

T-cell engager programs

  • Novel multi-specific DARPin® T-cell engager with an improved therapeutic window to overcome dose limiting toxicities in AML therapies.
  • A solution to T-cell engager toxicity: An anti-CD3 Prodrug DARPin® (CD3-PDD) shows no toxicity, but potent anti-tumor activity in a humanized mouse model

Peptide-MHC program

  • Application of the DARPin® technology for specific targeting of tumor-associated MHC class I: peptide complexes

For MP0317, the company’s multi-specific DARPin® candidate targeting both FAP and CD40 to enable tumor-localized immune activation, the research describes how the candidate’s activation of immune cells in-vitro, as well as on human tumor samples, was dependent on the presence of the FAP protein, which is highly expressed in the stroma of a broad range of solid tumors. Furthermore, the research observed that immunosuppressive macrophages associated with tumor growth and spread were reverted by MP0317 into an anti-tumor phenotype. These data support MP0317’s potential to deliver tumor-localized CD40-mediated immune cell activation avoiding systemic toxicity seen in other agents. MP0317 is anticipated to begin clinical trials in the second half of 2021.

For the T-cell engager program, two accepted research abstracts detail the construction of next generation T-cell engager DARPin® molecules designed to overcome the limited tumor specificity and the immune hyperstimulation associated with other T-cell engager approaches. By linking a T cell engaging CD3 DARPin® binder to additional DARPin® binder domains that optimally engage tumor-specific antigens in parallel, the company generated candidates that displayed strong in vitro potency, and low levels of cytokine release ex vivo – suggesting low systemic immune activation. Furthermore, an anti-CD3 Prodrug DARPin® (CD3-PDD) was successfully designed to have its immunostimulatory effects inactivated by a linked ‘blocking’ DARPin® domain, and become activated only in the tumor microenvironment, upon cleavage of the linker by tumor-associated proteases. In an in vivo humanized mouse tumor model, this candidate demonstrated anti-tumor activity and no toxicity when administered systemically. Together, the research supports Molecular Partners’ DARPin® technology ability to control immunostimulation through a validated mechanism with a heightened level of precision relative to existing approaches.

Finally, for the peptide-MHC (pMHC) program, the research provides updates on the development of pMHC binders in the T cell engager format. The successful screening and engineering of the bispecific DARPin® candidates (pMHC-CD3) achieved highly potent and specific T cell activation only in the presence of the target peptide, resulting in T-cell mediated tumor cell killing. A vast majority of tumor or viral antigens are presented as peptides on the cell surface by MHC molecules for immune cell recognition and have potential to be leveraged as versatile targets for immunomodulating therapeutics. However, to-date, antibody and T-cell receptor-based pMHC binders have been challenged by their low target abundance, weak affinity, cross-reactivity to other pMHCs, or challenging biochemical properties.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Molecular Partners and Novartis Report Positive Initial Results from Phase 1 Study of its COVID-19 Antiviral Therapy, Ensovibep, in Healthy Volunteers

  • Initial findings show ensovibep to be safe and well tolerated with no significant adverse events
  • Predictable exposure seen post administration, confirming the expected half-life of 2‑3 weeks
  • Global phase 2/3 registrational study planned to initiate in Q2 2021

Zurich-Schlieren, Switzerland, March 09, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein drugs known as DARPin® therapeutics, and its collaborator Novartis, today announced initial results from its ongoing phase 1 study of its first tri-specific COVID-19 antiviral treatment, ensovibep (MP0420), in healthy volunteers.

In the placebo-controlled phase 1 study, healthy volunteers were randomized 3:1 to receive an infusion of ensovibep, or placebo, respectively. Two dosing cohorts have been fully enrolled and received a single infusion of 3mg or 9mg per kilogram body weight, with 8 patients per dose cohort (16 total: 12 active, 4 placebo). In each of these cohorts, ensovibep was seen to be safe and well tolerated, with no significant adverse events reported. Preliminary results showed extended exposure of the DARPin® candidate in serum, with a half-life of 2-3 weeks, as was expected from preclinical experiments. These data confirm the systemic administration of a multi-specific DARPin® antiviral therapy to be safe and well tolerated, and support advanced plans for additional clinical work in positively diagnosed patients.

“We are excited to see the predictable exposure of ensovibep in this study. These data, coupled with the strong activity demonstrated preclinically against the major variants of SARS-CoV-2 in circulation, make it imperative that we move as quickly as possible to treating patients with our antiviral. These data now show that administration of a DARPin® candidate at these therapeutically relevant dose levels is possible with full consideration of safety and tolerability. We look forward to move rapidly to initiate our phase 2/3 global registration study with our partner Novartis, early in the second quarter of this year,” said Nicolas Leupin, M.D., CMO of Molecular Partners.

Per protocol, a third cohort in this phase 1 study, at a 20mg per kilogram dose level has been planned. As previously disclosed, this cohort has not been enrolled due to the “lock down” enforced in the UK due to the pandemic, starting at the end of 2020. It is possible this cohort can be enrolled in the coming weeks as restrictions lift, but Molecular Partners and Novartis have already identified the therapeutic dose levels which will be investigated in the upcoming clinical studies for infected patients, which are below the 20mg per kilogram dose level.

 

About Molecular Partners’ anti-COVID-19 program

Molecular Partners two antiviral DARPin® candidates, MP0420 and MP0423, are designed to target multiple different sites on the SARS-CoV-2 virus simultaneously for enhanced antiviral effects and potential use as both prophylactics and treatments. The benefits of this multi-specificity include cooperative binding, extremely high potencies and potential prevention of viral ‘escape’ via mutations. The candidates are formatted with a half-life extending DARPin® domain that binds to human serum albumin (HSA) to support long-acting activity. All DARPin® candidates are constructed to benefit from high-yield and low-cost microbial manufacturing. Molecular Partners is investigating whether the high thermal stability of DARPin® molecules can be used to overcome cold-chain requirements.

Following strong preclinical data supporting the anti-COVID-19 program candidates, in October 2020 the Company entered into a collaboration with Novartis in the form of an option and license agreement to develop, manufacture and commercialize Molecular Partners’ anti-COVID-19 DARPin® program. Per the terms of the agreement, Molecular Partners is conducting Phase 1 clinical trials for ensovibep and performing all remaining preclinical work for MP0423; Novartis will conduct Phase 2 and Phase 3 clinical trials, with Molecular Partners as sponsor of these trials. Upon option exercise, Novartis would be responsible for all further development and commercialization activities. Molecular Partners is also collaborating with AGC Biologics, Baccinex, and Ivers-Lee Clinical Supply Management (IL-CSM) to support development of its anti-COVID-19 program, and has reached an agreement with the Swiss Government regarding rights to purchase up to 3.2 million doses of MP0420, if it is approved in Switzerland.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

For more information see www.molecularpartners.com and follow the Company on Twitter at @MolecularPrtnrs.

 

About Novartis

Novartis is reimagining medicine to improve and extend people’s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world’s top companies investing in research and development. Novartis products reach nearly 800 million people globally and we are finding innovative ways to expand access to our latest treatments. About 110,000 people of more than 140 nationalities work at Novartis around the world. Find out more at https://www.novartis.com.

Novartis is on Twitter. Sign up to follow @Novartis at https://twitter.com/novartisnews
For Novartis multimedia content, please visit https://www.novartis.com/news/media-library

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Thomas Schneckenburger, European IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Molecular Partners Publishes Audited Financial Results for 2020 and Annual Report 2020

Zurich-Schlieren, Switzerland, February 26, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin® therapeutics, today published its audited Financial Results for 2020 and the company’s 2020 Annual Report.

The Audited Financial Results for 2020 and the company’s 2020 Annual Report are available on the investors section of the company’s website.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

www.molecularpartners.com; Follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Stefan Riley
stefan@tenbridgecommunications.com
Tel: +1 617 461 2442

Thomas Schneckenburger, IR & European Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Molecular Partners to Present at Upcoming Healthcare Investor Conferences

Zurich-Schlieren, Switzerland, February 22, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin® therapeutics, today announced that its Chief Executive Officer, Patrick Amstutz, Ph.D., will present at or attend several upcoming virtual healthcare investor events in February and March, 2021.

Conference Presentation Details:

  • Event: Leerink 10th Annual Global Healthcare Conference
  • Date/Time: Thursday, February 25, 8:40 AM – 9:10 AM ET (2:40 PM – 3:10 PM CET)

  • Event: Cowen 41st Annual Health Care Conference
  • Date/Time: Tuesday, March 2, 2021, 10:30 AM – 11:00 AM ET (4:30 PM – 5:00 PM CET)

  • Event: H.C. Wainwright Global Life Sciences Conference
  • Date/Time: Tuesday, March 9, 2021 7:00 AM – 7:30 AM ET (1:00 PM – 1:30 PM CET)

Conference Participation Details:

  • Event: Credit Suisse Global Virtual Healthcare Conference
  • Date: March 2-4, 2021

All webcasted presentations will be made available on the Molecular Partners website.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.

www.molecularpartners.com; Follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:
Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Media:
Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Stefan Riley
stefan@tenbridgecommunications.com
Tel: +1 617 461 2442

Thomas Schneckenburger, IR & European Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

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

Research & Development Highlights:

Virology:

  • 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)

Oncology:

  • 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

Research:

  • 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

 

Financial and Team Highlights:

  • 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 Fyfe 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

 

Zurich-Schlieren, Switzerland, February 05, 2021. Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built proteins known as DARPin® therapeutics, today announced its unaudited financial results for 2020 and corporate highlights for the fourth quarter of 2020.

“In 2020, our pipeline grew and evolved in several key ways, including clinical proof of biological activity for our first localized immune agonist program, important platform advances for the design of new immunomodulatory DARPin® candidates, and of course the rapid progression to the clinic of our COVID-19 program, specifically designed to deliver differentiated therapeutics that answer the need of an evolving global viral pandemic,” said Patrick Amstutz, Ph.D., chief executive officer of Molecular Partners. “We have significantly expanded the horizons of possibility for DARPin® molecules in 2020, and look forward to executing on multiple parallel clinical programs with very diverse targets in the year ahead.”

 

Antiviral program: Rapid development progress for highly differentiated anti-COVID-19 multi-DARPin® candidates with unique advantages

In October 2020, the Company announced further supportive preclinical data from in vivo assessments of its two DARPin® candidates targeting SARS-CoV-2. These candidates showed robust activity in an aggressive viral challenge hamster model, supporting potential efficacy as therapeutic options in patients with late-stage disease. In a highly susceptible COVID-19 challenge model developed by expert virologists at Freie Universität Berlin, hamsters were first infected with SARS-CoV-2 and then administered either select doses of anti-COVID-19 DARPin® candidates or placebo, at either 0, 6, or 24 hours. In the five-day experiment, all animals treated with DARPin® molecules recovered and survived, while 83% of animals in the placebo group had to be euthanized due to severe disease progression.

Further in October, the Company signed a collaboration with Novartis for the co-development of ensovibep and MP0423 as well as options for global commercialization. This collaboration combines the innovative protein drug development expertise of Molecular Partners with Novartis’ expertise in clinical development, manufacturing, regulatory affairs & commercialization to accelerate global development of both candidates.

Under the terms of the collaboration agreement, Molecular Partners received a cash payment of CHF 20 million (~$22 million USD). As part of the transaction, Novartis also agreed to acquire CHF 40 million (~$44 million USD) worth of ordinary shares at a price of CHF 23 (~$25 USD) per share. As a result, Novartis now holds approximately 6% of the outstanding shares of Molecular Partners. Molecular Partners is eligible to receive a future milestone payment of CHF 150 million (~$165 million USD), upon Novartis exercising the option to both therapeutic candidates, additional clinical milestones of CHF 5 million associated with MP0423, and 22% royalty on sales in commercial countries. Molecular Partners has agreed to forgo royalties in lower income countries, and is aligned with Novartis’ plans to ensure affordability based on countries’ needs and capabilities.

In November 2020, the Company dosed the first cohort of healthy volunteers in a Phase 1, randomized, double-blind, placebo-controlled, first-in-human single ascending dose study to evaluate the safety, tolerability, and pharmacokinetics of intravenously administered ensovibep in up to 24 healthy volunteers divided into three dose cohorts, with each cohort stratified 3:1 in favor of ensovibep. We expect to report initial data in Q1 2021. Multiple characteristics of DARPin® therapeutics make them ideally suited for antiviral therapies, particularly at time of global need. They also offer logistical advantages that other potential therapeutics in development may not possess, including (i) sub-picomolar potency, allowing investigation of subcutaneous administration as both early intervention and potential prophylaxis; (ii) highly scalable microbial manufacturing, allowing for up to 4 production runs on the same fermenter, per month; and (iii) high temperature stability (>80°C) which may allow for avoidance of cumbersome cold chain storage. Molecular Partners is actively exploring opportunities to develop DARPin® therapeutics against other viral infections with significant unmet global need.

Another important characteristic of DARPin® molecules as a class, and specifically against SARS-CoV-2, is the advantage of cooperative binding: multiple DARPin® domains, bound to each other on a single chain, collaboratively interacting with the target protein. In the example of SARS-CoV-2, this cooperative binding allows for much stronger target engagement and inhibition. Moreover, with the rise of new mutations and viral variants, cooperative binding allows DARPin® candidates to maintain a high level of potency even if one or two of the three binding domains lose some of their individual binding strength. As described in recent results, ensovibep and MP0423 continue to inhibit SARS-CoV-2 infections in vitro in the presence of multiple mutations, including those present in the B.1.1.7 P.1 and B.1.351 variants, first identified in UK, Brazil and SA, respectively.

Oncology: Clinical biomarkers provide support for MP0310/AMG 506 (targeting FAP x 4-1BB)

Initial clinical data from the ongoing phase 1 dose escalation study of MP0310 were presented in December 2020 at the Company’s virtual R&D day and support preclinical observations. At the time of analysis, 19 of the 22 patients were available for evaluation. Of these, 50% of patients achieved stable disease (SD). To date, this study has reported no dose-limiting toxicities and no serious adverse events (SAEs) of special interest. Tumor biopsies show tumor-localized immune response consistent with the predicted MoA of MP0310. The PK profile appears to be dose dependent additional dosing regimens are currently being explored.

Additionally, biopsy data showed significant increases in activation across multiple immune cell types, while inflammatory markers in the peripheral blood were unchanged. Grade 2/3 infusion-related responses (IRRs) were observed in 12 patients and were manageable.

Oncology: Preclinical data supports mechanism of MP0317 (targeting FAP x CD40)

In 2020, the Company presented preclinical data at research conferences strongly supporting the intended profile and CD40-mediated immune activation capabilities of MP0317. In a mouse model, a mouse-specific version of MP0317 was found to substantially inhibit the progression of FAP-positive tumors without showing any of the toxicities seen with administration of a mouse CD40 antibody. Phase 1 initiation for MP0317 is now anticipated in H2 2021 due to a loss of drug supply associated with fill/finish procedures. New batches of MP0317 will be produced in H1 2021 and the clinical study is anticipated to initiate shortly thereafter.

Oncology: Novel therapeutic platforms address key challenges facing non-DARPin® approaches

At its virtual R&D Day in December 2020, the Company shared data demonstrating the substantial progress made across the CD3/T cell engager and peptide MHC (pMHC) therapeutics platforms, which both open an array of new opportunities for modulating the immune system to fight disease.

 CD3/T cell engagers: The CD3/T cell engager therapeutics platform is designed to avoid the dose-limiting toxicities that T cell engagers have generally produced to-date. The Company has now demonstrated both highly selective T cell activation in the tumor microenvironment, as well as the capacity for ‘slow release’ activation of T cells in the circulation, giving multiple levels of control over this key immuno-oncologic mechanism to help reduce off-tumor effects, achieve higher dose levels and ultimately enhanced clinical benefit. The multi-domain DARPin® format potentially allows a high level of functional ‘tuning’ to a target indication. In models of acute myeloid leukemia, multi-DARPin® CD3/T cell engager research candidates have demonstrated high potency, improved selectivity and lower levels of inflammatory cytokine stimulation.

pMHC platform: The unique binding surface of DARPin® molecules can be tailored to target pMHC immune complexes, which display the intracellular proteome on the surface of cells and thereby can show specific peptides intimately associated with disease, including with virus-infected cells or tumor cells. pMHCs have proved extremely challenging to target – with high affinity and specificity – for other modalities. The Company’s pMHC platform is now supported by technical proof-of-concept data demonstrating high potency and specificity – resolving several major challenges of classical pMHC-targeted discovery via non-DARPin® approaches.

 

Board Updates

Gwen Fyfe has informed the Company that she will not stand for re-election at the upcoming Annual General Meeting on 21 April 2021. Gwen Fyfe has been a member of the Board of Directors since 2017. The Board of Directors would like to express their deep gratitude for her invaluable contributions and commitment to Molecular Partners during her years of service. Gwen Fyfe will be available to support the Company on a consultancy basis.

 

Financial Highlights: Net result and cash position on previous year’s level

In the financial year 2020, Molecular Partners recognized total revenues of CHF 9.3 million (2019: CHF 20.4 million) and incurred total expenses of CHF 67.7 million (2019: CHF 57.1 million). This led to an operating loss of CHF 58.3 million for 2020 (2019: Operating loss of CHF 36.7 million). The net financial loss of CHF 4.4 million recorded in 2020 compared to a net financial income of CHF 0.4 million in 2019. This resulted in a 2020 net loss of CHF 62.8 million (2019: Net loss of CHF 36.3 million).

The net cash used for operating activities in 2020 was CHF 29.0 million (2019: net cash used of CHF 1.2 million). Including time deposits, the cash and cash equivalents position increased by CHF 78.6 million vs. year-end 2019 to CHF 173.7 million as of December 31, 2020 (December 31, 2019: CHF 95.1 million). Total shareholders’ equity stood at CHF 107.2 million as of December 31, 2020, an increase of CHF 53.1 million (December 31, 2019: CHF 54.1 million).

 

Key figures as of December 31, 2020 

Key Financials (unaudited) FY 2020 FY 2019 Change
(CHF million, except per share, FTE data)
Total revenues 9.3 20.4 (11.1)
R&D expenses (56.1) (43.5) (12.6)
SG&A expenses (11.6) (13.6) 2.0
Operating result (58.3) (36.7) (21.6)
Net finance result (4.4) 0.4 (4.8)
Net result (62.8) (36.3) (26.5)
Basic and diluted net result per share (in CHF) (2.51) (1.69) (0.82)
Net cash from (used in) operating activities (29.0) (1.2) (27.8)
Cash & cash equivalents at December 31 (incl. short-term time deposits) 173.7 95.1 78.6
Total shareholders’ equity at December 31 107.2 54.1 53.1
Number of total FTE at December 31 145.4 135.2 10.2

As of December 31, 2020, the company employed 145 FTE, up 8% compared to year-end 2019. Approximately 85% of the employees are employed in R&D-related functions.

 

Business outlook and priorities

In 2021, Molecular Partners will focus on advancing its immuno-oncology and infectious disease programs. For the COVID-19 program, the Company anticipates final data from the ongoing phase 1 study of ensovibep will be available in the first quarter of 2021. The Company also anticipates the initiation of additional clinical studies of ensovibep throughout the first half of 2021, with the goal of achieving clinical proof of concept and potential emergency use authorization within 2021.

In immuno-oncology, the Company is planning to investigate an optimized dosing schedule for MP0310/AMG 506 via exploration of weekly administration ahead of potential combination studies with Amgen assets. The Company also expects initiation of a phase 1 study of MP0317, the second immuno-oncology local agonist, in H2 2021.

Additionally, Molecular Partners will continue to advance its immuno-oncology research pipeline, including the significantly advanced peptide MHC (pMHC) and CD3/T Cell targeting platforms, both of which have the potential to open up a range of new targets to DARPin® therapeutics, and plans to publish or present multiple updates across its portfolio at select scientific venues.

 

Financial outlook 2021

For the FY 2021, at constant exchange rates, the company expects total P&L expenses of CHF 65-75 million, of which around CHF 7 million will be non-cash effective costs for share-based payments, IFRS pension accounting and depreciations. In terms of cash outflow the company expects a gross cash burn of CHF 85-95 million, which includes CHF 20 million payable to Novartis for the manufacturing of commercial supply. This cash flow guidance does not include any potential payments from R&D partnerships.

With CHF 173.7 million cash at hand and no debts as per the end of 2020 the company is funded into 2023, excluding any potential payments from R&D partners.

This guidance is subject to the progress of the pipeline, mainly driven by manufacturing costs, the speed of enrollment of patients in clinical trials and data from research and development projects.

 

Investor documentation of FY 2020 results

The results presentation as well as this press release will be made available at www.molecularpartners.com after 7:00am (CET) on February 05, 2021.

FY 2020 conference call

Molecular Partners will hold a conference call and video webcast on Friday, February 05, 2021, 2:00pm CET (1:00pm GMT, 8:00am EST).

In order to register for the FY 2020 conference call, please dial the following numbers approximately 10 minutes before the start of the presentation:

Switzerland / Europe +41 (0) 58 310 5000
UK +44 (0) 207 107 0613
US +1 (1) 631 570 5613

Participants will have the opportunity to ask questions after the presentation.

Video webcast

The FY 2020 results presentation will be webcast live and will be made available on the Company’s website under the investor section. The replay will be available for 90 days following the presentation.

 

Financial Calendar

Date Event
26 February 2021 Publication of FY 2020 Annual Report
21 April 2021 Annual General Meeting
12 May 2021 Interim Management Statement Q1 2021
26 August 2021 Publication of HY Results 2021 (unaudited)

 

This calendar is always viewable at this link.

 

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company developing DARPin® therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics in the areas of ophthalmology, oncology and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas. www.molecularpartners.com; Follow the Company on Twitter at @MolecularPrtnrs.

 

For further details, please contact:

Investors:

Seth Lewis
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

 

Media:

Shai Biran, Ph.D.
shai.biran@molecularpartners.com
Tel: +1 978 254 6286

Stefan Riley
stefan@tenbridgecommunications.com
Tel: +1 617 461 2442

Thomas Schneckenburger, IR & European Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 407 9952

 

Forward-looking statements

This press release may contain certain forward-looking statements relating to the company and its business. Although the company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”, and other words and terms of similar meaning or the negative thereof. Forward-looking statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.