What Multitude Therapeutics does

Multitude Therapeutics (普众发现医药科技（上海）股份有限公司) is a clinical-stage biotechnology company headquartered in Shanghai, China, developing antibody-drug conjugate (ADC) therapies for the treatment of solid tumors. The company was founded in 2020 and operates with a headcount of 11–50 employees. Its pipeline comprises six ADC candidates — AMT-116 (CD44v9), AMT-253 (MUC18), AMT-676 (CDH17), AMT-562 (HER3), AMT-707 (CDH6), and AMT-754 (TF) — targeting multiple solid tumor indications including EGFR wild-type non-small cell lung cancer, melanoma, soft tissue sarcoma, colorectal cancer, and gynecological cancers. Multiple candidates are positioned as potential first-in-class molecules against their respective targets.

The company's R&D is anchored by two proprietary platforms. The PAD (Precision ADC Design) Molecular Design Platform integrates tumor-biology insight with ADC structural design expertise to engineer constructs that balance potency, tumor selectivity, and off-target toxicity minimization, incorporating proprietary linker systems (e.g., the protease-sensitive, polysarcosine-modified T1000 linker) and payload systems (including an exatecan-based TOP1 inhibitor platform published in Cancer Discovery 2023). The MabArray Target Discovery Platform uses an industrialized hybridoma system and an ultra-high-density monoclonal antibody library of approximately 100,000 clones to enable large-scale screening for novel tumor antigens, feeding a continuous pipeline of new ADC-ready targets. Clinical trials are run in Australia, the United States, and China, with AMT-253 having secured U.S. FDA Orphan Drug Designation for soft tissue sarcoma (March 2026) and China CDE Breakthrough Therapy Designation for melanoma (December 2025).

The business model is pre-revenue: Multitude does not yet have commercialized products and has not disclosed product pricing. Revenue is intended to be generated through a combination of future product sales and out-licensing/partnership agreements; two deals are already in place — AMT-707 was out-licensed to OnCusp Therapeutics in 2022 for U.S. development, and AMT-754 was out-licensed to Adcendo ApS in August 2024 for global rights excluding Greater China. A technology collaboration with Kelun-Biotech supplies the KL610023 TOP1 inhibitor payload used in AMT-116. The company has been funded through angel/Pre-A rounds (2020–2021), a Series A (2023), and a Series A+ (2025), with disclosed participation from Northern Light Venture Capital and Spinnotec in 2021.

Name

Multitude Therapeutics

Legal name

普众发现医药科技（上海）股份有限公司

Website

https://multitudetherapeutics.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Multitude Therapeutics is a clinical-stage Chinese biotechnology company developing antibody-drug conjugate (ADC) therapies for solid tumors, leveraging proprietary PAD and MabArray platforms to advance six first-in-class ADC candidates through clinical trials in China, the US, and Australia.

Ownership category

akta.pro rank

Product category

Oncology Biopharmaceuticals (Antibody-Drug Conjugates)

NAICS

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

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

akta.pro secondary industries

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB), Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA), Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Antibody-drug conjugates
• ADC therapeutics
• Oncology drug development
• Solid tumor therapy
• Targeted cancer biologics

Headquarters

HQ city

Xuhui

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. ADC Drug Development and Commercialization: Pre-revenue clinical stage company focused on developing ADC therapeutics through clinical stages. Revenue will come from product sales and out-licensing/partnership agreements once products reach commercialization.
2. Out-licensing and Partnership Revenue: The company generates revenue through out-licensing agreements with partners. AMT-754 was out-licensed to Adcendo for global development (except Greater China), and AMT-707 was out-licensed to OnCusp.

Distribution channels1 record

Marketing channels3 records

Core offering

Multitude Therapeutics is a clinical-stage biotechnology company developing antibody-drug conjugate (ADC) therapeutics for solid tumors. Its pipeline comprises six ADC candidates built on two proprietary platforms — the PAD Molecular Design Platform for rational ADC construct design and the MabArray Target Discovery Platform, an industrialized hybridoma system with approximately 100,000 monoclonal antibody clones for novel tumor antigen discovery. Current revenue is generated through out-licensing agreements with partners Adcendo (AMT-754) and OnCusp (AMT-707).

Product overview

Multitude Therapeutics is a clinical-stage biotechnology company developing a portfolio of Antibody-Drug Conjugate (ADC) therapies for solid tumors. The company's core products include six ADC candidates: AMT-116 (CD44v9-directed, Phase I/II), AMT-253 (MUC18-directed, Phase I/II), AMT-676 (CDH17-directed, Phase I), AMT-562 (HER3-targeted, preclinical), AMT-707 (CDH6-directed, Phase I), and AMT-754 (TF-directed, licensed out). These ADC candidates are developed using two proprietary technology platforms: the PAD Molecular Design Platform for rational ADC structure design and the MabArray Target Discovery Platform for identifying novel tumor-specific targets.

Differentiator

Problem solved

Functional benefit

Products and services

• AMT-116 A potential first-in-class CD44v9-directed ADC with drug-to-antibody ratio of 7-8, using a hydrolysable linker and the KL610023 topoisomerase I inhibitor payload. In Phase I/II clinical evaluation for EGFR wild-type NSCLC and other advanced solid tumors.
• AMT-253 A potential first-in-class MUC18-directed ADC with drug-to-antibody ratio of 8, using a protease-cleavable linker and exatecan payload. In Phase I/II evaluation for melanoma, gynecologic cancers, and soft tissue sarcoma. Holds FDA Orphan Drug Designation (soft tissue sarcoma) and CDE Breakthrough Therapy Designation (melanoma).
• AMT-676 The world's first clinical-stage CDH17-targeted ADC with drug-to-antibody ratio of 4, using a TOP1 inhibitor payload via the proprietary T1000 protease-cleavable linker. Intended for colorectal cancer and other solid tumors.
• AMT-562 A HER3-targeted ADC candidate with average drug-to-antibody ratio of 8, using an exatecan topoisomerase I inhibitor payload via an optimized self-immolative PABC spacer. Preclinical studies show strong antitumor activity in HER3-expressing tumors.
• AMT-707 A CDH6-directed ADC candidate with average drug-to-antibody ratio of 8, using an exatecan payload via a proprietary protease-sensitive polysarcosine-modified peptide linker. Out-licensed to OnCusp Therapeutics for U.S. Phase Ia development, showing potent antitumor activity in ovarian, kidney, and cholangiocarcinoma preclinical models.
• AMT-754 (ADCE-T02) A Tissue Factor (TF)-targeted ADC candidate with average drug-to-antibody ratio of 4, using a protease-cleavable Val-Ala dipeptide linker conjugated to exatecan. Out-licensed to Adcendo ApS for global development outside Greater China (renamed ADCE-T02).

Quantifiable outcome

• AMT-253 in melanoma: ORR of 28.6% (16/56) across all dose levels; 41.7% ORR in chemotherapy-naive patients; mPFS of 8.5 months
• +2 more outcomes

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Adcendo ApScoreOEM/ Whitelabel/ Licensing Partner · 1 August 2024Strategic partnership established in August 2024, granting Adcendo exclusive global development and commercialization rights (except Greater China) for AMT-754 (anti-TF ADC, internally developed by Multitude). Adcendo is a Copenhagen-based biotech focused on first-in-class ADCs for cancers with high unmet medical needs. The partnership includes advancement of ADCE-T02 (formerly AMT-754) in Phase I Tiffany-01 clinical trials.
• OnCusp Therapeutics InccoreOEM/ Whitelabel/ Licensing Partner · 1 January 2022Out-licensing and development agreement for AMT-707 (CDH6 ADC) entered in 2022. OnCusp sponsors and conducts the Phase Ia clinical trial of AMT-707 (NCT06234423) in the US. This partnership enables the advancement of the CDH6-targeted ADC program through multinational clinical development.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tubulis: Clinical-stage German biotech developing ADCs with proprietary linker and payload platforms (P5 conjugation and TOP1i payload platforms). Comparable to Multitude as a clinical-stage ADC specialist with proprietary platform technology targeting solid tumors.
• ProfoundBio: Clinical-stage ADC developer focused on novel targets in solid tumors. ProfoundBio has developed multiple ADC candidates using proprietary linker-payload technology and recently received acquisition interest from major pharma, making it a near-perfect comparable for Multitude's clinical stage and platform approach.
• Mersana Therapeutics: Clinical-stage biotechnology company developing ADCs with proprietary platforms (Dolasynthen and Immunosynthen). Closely comparable as a clinical-stage ADC-focused biotech with multiple candidates in oncology and similar partnership/out-licensing strategy.
• LegoChem Biosciences: South Korea-based clinical-stage biotech developing ADCs with proprietary conjugation technology (ConjuAll) and multiple oncology candidates in clinical development. Comparable as clinical-stage ADC platform company with similar scope and partnerships with multinational pharma.
• Innovent Biologics: China-based biopharmaceutical company with multiple approved oncology biologics and a growing ADC pipeline (IBI354, IBI3016, etc.). Directly comparable as a Chinese ADC developer with global ambitions and similar target classes including HER3.
• Kelun-Biotech: Chinese clinical-stage biopharmaceutical company with multiple ADC programs including SKB264 (TROP2 ADC). Kelun-Biotech is both a comparable peer and a collaborating partner (supplies KL610023 TOP1 payload for AMT-116), making it highly relevant for assessing the China ADC competitive landscape.
• Adcendo ApS: Copenhagen-based clinical-stage biotech developing first-in-class ADCs for cancers with high unmet needs. Adcendo licenses AMT-754 from Multitude (renamed ADCE-T02) and is a direct partner. Highly comparable clinical-stage ADC developer with similar target focus and partnership-driven business model.

Emerging players

• Pyxis Oncology: Clinical-stage ADC and immuno-oncology company with multiple candidates including PYX-201 (first-in-class Extradherin-targeting ADC). Comparable as an emerging clinical-stage ADC developer with first-in-class programs and platform approach, though with fewer candidates in the clinic.

Broad incumbents

• Daiichi Sankyo: Japanese global pharmaceutical leader in ADC space (Enhertu, Datroway with AstraZeneca; raludotatug deruxtecan). Sets the competitive standard for ADC development and is the most likely strategic acquirer or partner for emerging ADC players like Multitude.
• ImmunoGen (AbbVie): Pioneer in ADC development (Elahere, Kadcyla originator) acquired by AbbVie in 2024. Represents the exit pathway that platform ADC companies aim for via acquisition by large pharma. Comparable as the established incumbent whose business model Multitude's platform aspires to emulate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/multitude-therapeutics

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors2 records

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M&A

Investments

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

Frequently asked questions about Multitude Therapeutics