MabVax’s antibody-based radioimmunotherapy product MVT-1075 is currently being tested on 22 patients with CA19-9 positive malignancies in a Phase I trial.
SAN FRANCISCO – MabVax Therapeutics, Inc. has its eyes set on the next six months as the antibody-based company looks for some possible dealmaking to support its financial future and enroll another cohort in its ongoing Phase I clinical trial that could benefit patients battling pancreatic and lung cancer.
MabVax anticipates revealing interim data later this quarter. MabVax believes MVT-1075 and its tumor-specific targeting has the potential to deliver a more potent attack on a tumor target. MVT-1075 combines MabVax’s fully human HuMab-5B1 antibody and the commercially validated radionuclide, 177Lutetium, for the purpose of delivering a lethal dose of radiation to the targeted pancreatic cancer cells.
David Hansen, chief executive officer of MabVax, told BioSpace in an exclusive interview ahead of the J.P. Morgan Healthcare Conference that the company chose to focus on pancreatic cancer due to the high unmet need.
“There are about 50,000 patients diagnosed in the U.S. each year and most die within 12 months due to late-stage diagnosis,” Hansen said.
To develop an effective antibody for pancreatic cancer, Hansen said years of study taught MabVax researchers that the antibody must be augmented. Company researchers settled on the radionucleotide zirconium. The combination was administered to 12 patients and delivered “remarkable results,” Hansen said. The results showed the antibody could carry a radionucleotide to the tumor cell, which Hansen said was a “great stepping stone.” That step led MabVax to the development of MVT-1075 and the initiation of its Phase I trial.
“So far so good. Now we’ll be stepping up the dose,” Hansen said of the ongoing trial.
In April 2017, the company announced preclinical results for MVT-1075 at the American Association of Clinical Research (AACR) annual meeting. The results showed the drug demonstrated marked suppression and regression of tumor growth in xenograft animal models of pancreatic cancer.
But it’s not just the company’s work with pancreatic cancer that’s generating buzz early in the year. Hansen said there are potential collaborative deals in the works in the company’s programs for ovarian and triple-negative breast cancer. Hansen said the company has begun to release some positive information on the antibodies they’re developing for these diseases which have “appealed to the large pharmaceutical companies.”
A partnership could provide some much-needed capital to the 12-employee company that six months ago announced it was exploring strategic options that could include a sale of the company. Hansen said MabVax is a small biotech company and struggles to raise additional capital. Additionally, he said the company has some assets that are being ignored or undervalued and as a result, the company recognized it needed help.
In September, the company engaged Greenhill & Co. as its financial advisor while it explores options.
“We’re now in the middle of evaluating a variety of potential partners and transactions,” Hansen said. He declined to provide any details of the potential deals. “We have a two-pronged approach. We believe in the clinical programs and their value. But we recognize we need a larger partner to carry this forward.”
During the J.P. Morgan conference, Hansen said he will meet with potential partners and those interested in the MabVax antibody library. He said the company “owes it” to its shareholders to keep all options on the table, including a possible sale of the company. Hansen said he is optimistic something will be done within the first six months of the year and believes MabVax is heading in the right direction.
“We’re hopeful we can drive forward something significant in the near future,” he said.
