What ModeX Therapeutics does

ModeX Therapeutics is a clinical-stage biopharmaceutical company founded in 2020 and operating as a wholly-owned subsidiary of OPKO Health (NASDAQ: OPK). The company is headquartered at 20 Riverside Road, Weston, Massachusetts and employs 11–50 staff. Its scientific mission is to engineer multispecific antibodies — single molecules that engage multiple biological targets simultaneously — to address complex diseases in oncology, infectious disease, immunology, and metabolic disorders.

ModeX develops its candidates through two proprietary modular platforms: the MSTAR platform, which enables design of multispecific antibodies combining multiple biologics in a single molecule, and a Nanoparticle Vaccine Platform, which presents multiple antigens for infectious disease prevention. The current clinical pipeline comprises five programs: MDX2003 (tetraspecific T-cell engager in Phase I for relapsed/refractory B-cell lymphoma), MDX2301 (tetravalent bispecific COVID-19 antibody in Phase I, BARDA-funded), MDX2004 (trispecific antibody in Phase 1/2a for advanced cancers and immune disorders), an EBV vaccine in collaboration with Merck (Phase I, 200+ subjects enrolled), and a preclinical in-vivo CAR-T program targeting first-in-human trials by end-2026 or early-2027.

ModeX generates no product revenue; its economics flow from licensing and milestone payments under collaboration agreements and federal contract funding. The October 2025 Regeneron license and collaboration agreement delivered a $7M upfront with potential milestones exceeding $200M per selected molecule and an aggregate potential value above $1B. BARDA provides non-dilutive funding for the MDX2301 Phase 1 program. The Merck EBV vaccine partnership provides milestone-linked economics. Co-founders are Elias Zerhouni (Chairman; also OPKO Health President and Vice Chairman) and Gary Nabel (President and CEO; also OPKO Health Chief Innovation Officer). Scientific leadership includes CSO John Mascola (former Director of the NIH Vaccine Research Center, NIAID), COO Ji Zhang (formerly Senior Partner at Flagship Pioneering), and CMOs/CDOs with deep biotech drug-development backgrounds.

Name

ModeX Therapeutics

Legal name

ModeX Therapeutics

Website

https://modextx.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

ModeX Therapeutics is a clinical-stage biopharmaceutical subsidiary of OPKO Health that develops multispecific antibody therapeutics for oncology, infectious diseases, immunology, and metabolic disorders using proprietary MSTAR and Nanoparticle Vaccine platforms, monetized through licensing and milestone payments.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industries

Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA) (HLAAAEAD), Therapeutic Vaccines (cancer, chronic infection immunotherapy) (HLAAAEAB), Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

Keywords

• Multispecific antibody therapeutics
• Bispecific antibody engineering
• Immuno-oncology biologics
• Infectious disease antibodies
• Nanoparticle vaccine development

Headquarters

HQ city

Natick

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Licensing and Milestone Payments (Regeneron Collaboration): ModeX receives upfront payments and potential milestone payments exceeding $200 million per selected molecule from Regeneron, with overall collaboration value exceeding $1 billion if multiple products advance successfully. Revenue is generated through preclinical, clinical, and commercial milestones.
2. Federal Contract Funding (BARDA): ModeX receives federal funding from the U.S. Biomedical Advanced Research and Development Authority (BARDA) for the MDX2301 COVID-19 antibody program, supporting Phase 1 clinical trial costs.
3. Collaboration Revenue (Merck EBV Vaccine): OPKO's collaboration with Merck involves an Epstein-Barr virus vaccine study that has enrolled over 200 subjects in Phase 1, with milestone payments tied to subgroup analyses and Phase II design decisions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

ModeX Therapeutics is a clinical-stage biopharmaceutical company developing multispecific antibody therapeutics using its proprietary MSTAR Platform and Nanoparticle Vaccine Platform. The company engineers single molecules that combine multiple biologics to simultaneously target distinct biological pathways, addressing cancer, infectious diseases, immunology, and metabolic disorders. Its pipeline includes MDX2003 (tetraspecific T-cell engager for B-cell lymphoma), MDX2301 (tetravalent bispecific antibody for COVID-19 prevention), MDX2004 (trispecific antibody for advanced cancers and immune disorders), an EBV vaccine developed with Merck, and an in-vivo CAR-T program.

Product overview

ModeX Therapeutics is a biopharmaceutical company developing multispecific antibody therapeutics using its proprietary modular platforms. The company operates two core technology platforms: the MSTAR Platform for developing multispecific antibodies and a Nanoparticle Vaccine Platform. The clinical pipeline includes MDX2003 (tetraspecific T-cell engager for B-cell lymphoma), MDX2301 (tetravalent bispecific antibody for COVID-19 prevention), MDX2004 (trispecific antibody for advanced cancers and immune disorders), an EBV vaccine (in collaboration with Merck), and an in-vivo CAR-T program. ModeX is a subsidiary of OPKO Health and has a strategic collaboration with Regeneron worth over $1 billion to develop multispecific antibodies targeting immunology, oncology, and metabolic diseases.

Differentiator

Problem solved

Functional benefit

Products and services

• MDX2003
• MDX2301
• MDX2004
• Epstein-Barr Virus (EBV) Vaccine

Quantifiable outcome

• Over five tetraspecific antibodies are currently in clinical trials with first approval expected by 2032
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• MerckcoreStrategic or Co-development Partner · 28 April 2026OPKO Health's collaboration with Merck involves an Epstein-Barr virus (EBV) vaccine study that has enrolled over 200 subjects in a Phase 1 study, with subgroup analyses underway. Data is expected to inform Phase II design by year-end.
• U.S. Biomedical Advanced Research and Development Authority (BARDA)coreStrategic or Co-development Partner · 9 April 2026BARDA is funding the Phase 1 clinical trial of MDX2301, a tetravalent bispecific antibody for COVID-19 prevention, under a federal contract from the U.S. Department of Health and Human Services. The funding supports evaluation of safety, tolerability, pharmacokinetics, and neutralizing activity across 80 participants in the dose-escalation study.
• Regeneron PharmaceuticalsflagshipStrategic or Co-development Partner · 29 October 2025ModeX Therapeutics entered into a license and collaboration agreement with Regeneron to develop multispecific antibodies using ModeX's MSTAR platform combined with Regeneron's proprietary binders. ModeX received $7 million upfront with potential milestone payments exceeding $200 million per selected molecule. The overall collaboration value could exceed $1 billion if multiple products advance successfully in immunology, oncology, and metabolic diseases. Regeneron funds preclinical, clinical, and commercial development.
• OPKO HealthflagshipStrategic or Co-development PartnerModeX Therapeutics is an OPKO Health company. OPKO Health serves as the parent organization, providing corporate infrastructure, capital resources, and strategic oversight. OPKO Health reported Q4 2025 revenues of $148.5 million and has transformed its diagnostic business following the sale of BioReference's oncology division to Labcorp.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Compass Therapeutics: Clinical-stage oncology company developing bispecific antibodies (e.g., CTX1121) for hematologic and solid tumors. Comparable in modality and therapeutic area focus.
• Zymeworks: Develops multifunctional therapeutics platforms (Azymetric and EFFECT) for multispecific antibodies, with oncology pipeline assets in clinical development. Closely comparable technology positioning to ModeX's MSTAR platform.
• Janux Therapeutics: Clinical-stage company developing T-cell engager (TCE) immunotherapies for solid tumors using a tumor-activated technology platform. Closely matches ModeX's MDX2003 tetraspecific T-cell engager approach.
• MacroGenics: Clinical-stage biotech developing bispecific antibodies (DART and TRIDENT platforms) primarily in oncology, including T-cell engagers. Comparable in modality (bispecific/multispecific antibodies) and therapeutic focus.
• Genmab: Pioneer in bispecific antibody engineering (Duobody platform) with multiple approved products (Darzalex, Rybrevant, Tecvayli) and a broad multispecific pipeline. Directly comparable to ModeX in modality focus on multispecific antibodies for oncology and immunology.
• Harpoon Therapeutics: Develops T-cell engagers using a proprietary tri-specific T-cell engager (TriTAC) platform for solid tumors and hematologic malignancies. Comparable in oncology T-cell engager modality and clinical-stage profile.

Others

• Adimab: Leading antibody discovery platform company providing engineering services and partnerships to biopharma. Comparable as an enabling platform player in the antibody engineering ecosystem that ModeX's MSTAR platform competes against for partner attention.

Emerging players

• AbCellera Biologics: Antibody discovery company with proprietary platform technology for high-throughput antibody screening and partnership-based business model. Comparable platform-based, partner-driven approach.
• Vir Biotechnology: Clinical-stage immunology company developing infectious disease antibodies (including for SARS-CoV-2). Comparable in COVID-19 antibody program (Xevudy) and infectious disease antibody focus.

Broad incumbents

• Regeneron Pharmaceuticals: Flagship ModeX collaboration partner and established leader in antibody therapeutics (Dupixent, Libtayo, REGN-COV). Comparable as a large incumbent in the multispecific antibody and antibody platform space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ModeXTx
• LinkedInlinkedin.com/company/71740144

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ModeX Therapeutics