Fenwick Represents Day One Biopharmaceuticals in Exclusive License Agreement with MabCare Therapeutics

Fenwick represented Day One Biopharmaceuticals, a commercial-stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, in its exclusive licensing agreement with MabCare Therapeutics for MTX-13, a novel ADC targeting protein-tyrosine kinase 7 (PTK7).

Under the terms of the agreement, Day One has exclusive rights to develop, manufacture, and commercialize MTX-13 worldwide, excluding Greater China. MabCare will receive $55 million upfront and is eligible to receive an additional $1.152 billion in development, regulatory, and commercial success-based milestones, plus low-to-mid single-digit royalties on net sales outside of Greater China. More information about the collaboration can be obtained from Day One's announcement.

The Fenwick transaction team included counsel Amy Manning and Life Sciences partner Stefano Quintini.