Molecular Partners presented the first human imaging data for its lead Radio‑DARPin MP0712 at the TRP Summit Europe on November 12 2025. The data came from a South African patient whose small‑cell lung cancer was staged as stage 3 at diagnosis but re‑classified to stage 4 after the imaging, underscoring the clinical relevance of the therapy. The 203Pb‑labeled MP0712 images demonstrated clear tumor uptake, limited accumulation in kidneys and liver, and sustained tumor signal over several days, confirming the drug’s targeted delivery and internalization.
The imaging results provide a critical foundation for the planned Phase 1 trial, which is expected to begin by the end of 2025 and to deliver first clinical data in 2026. The milestone validates the mechanism of action for MP0712 and supports the company’s strategy to advance a platform of targeted alpha‑particle therapies.
Molecular Partners’ partnership with Orano Med, which supplies the 212Pb isotope used for therapeutic payloads, is highlighted in the presentation. Orano Med’s secure supply chain and manufacturing capabilities are essential for scaling MP0712 and other candidates in the Radio‑DARPin portfolio, reinforcing the company’s pipeline breadth.
Financially, Molecular Partners reported a net loss for Q3 2025 but maintained a strong cash position of CHF 105 million as of September 30 2025, providing a runway through 2028. The cash reserve supports continued investment in clinical development and the upcoming Phase 1 trial without immediate financing pressure.
Analysts have responded positively to the imaging data, raising the average one‑year price target for the company’s depositary receipt to $15.45, an 11.97 % increase from the prior estimate of $13.80. The revision reflects growing confidence in the company’s pipeline and the potential commercial impact of MP0712.
CEO Patrick Amstutz emphasized the significance of the imaging milestone, stating, “The images show targeted delivery of MP0712 into tumors and limited exposure in healthy organs of concern such as kidney and liver. This is an important milestone for MP0712, which is indicative of its potential performance in a clinical setting when carrying 212Pb as therapeutic radioactive payload and providing a strong basis for advancing its clinical development.”
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