FT-836 Drug Asset Due Diligence Report 2026

This FT-836 Drug Asset Due Diligence Report was built with PatSnap Life Sciences MCP workflows. Drug & Asset MCP establishes identity, ownership and stage; Clinical Trials MCP checks design, endpoints and readouts; Company & Deal Intelligence MCP reconstructs transaction precedent. Explore the MCP servers used in this report.

Decision date: 11 September 2026. Currency fields are presented in US$ millions as returned by the deal dataset. This is a screening memorandum, not legal, medical, patent or investment advice.

Phase 1

Highest phase

Registered trials

Result records

174

Matched deals

Executive recommendation: HOLD / OPTION

Decision memo

Preserve optionality until clinical differentiation, transaction economics, and freedom-to-operate are sufficiently de-risked.

The central underwriting question is whether FT-836 can convert its CAR-T profile and EGFR x HER2 x MICA x MICB biology into clinically meaningful differentiation while preserving an investable safety, IP and commercial position.

1. Asset identity and development status

Asset	FT-836 (query alias: FT-836)
Modality / target	CAR-T; EGFR x HER2 x MICA x MICB; EGFR antagonists, HER2 antagonists, MICA inhibitors
Highest global status	Phase 1
Originator	Fate Therapeutics, Inc.
Active developers	Fate Therapeutics, Inc., Dana-Farber Cancer Institute, Inc., Medical College of Wisconsin

The MCP disease footprint includes Multiple Myeloma, Advanced Malignant Solid Neoplasm, Breast Cancer. The highest-phase flag is a useful orientation point, but the licensing case depends on indication-level evidence and rights, not the global label alone.

2. Clinical program: design and endpoint audit

Registry	Phase	Status	Enrollment	Lead primary endpoint
NCT07221032	Phase 1	Not yet recruiting	12	Primary endpoint not disclosed in English source
NCT07216105	Phase 1	Recruiting	119	Primary endpoint not disclosed in English source

The trial set should be diligenced for randomization, comparator relevance, endpoint hierarchy, analysis population, multiplicity, geographic mix and readout timing. For early-stage studies, safety and dose selection can be as decision-critical as response rate.

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3. Clinical readouts: what is known

Preliminary phase 1 results of a MICA/B-targeted CAR T cell designed to overcome solid tumor escape mechanisms and avoid the requirement for conditioning chemotherapy.

Phase 1; n=3; evaluation: Positive. Reported fields: CEA response = One of the three pts demonstrated a CEA response with >50% reduction (480 ng/mL at BL; 230 ng/mL at 4 weeks after first FT836 infusion)

These fields are structured evidence signals, not a substitute for statistical review. The next diligence pass should reconcile denominators, confidence intervals, follow-up, censoring, dose cohorts and treatment-emergent toxicity against the original abstract, registry and protocol.

4. Market and competitive position

FT-836 addresses Multiple Myeloma, Advanced Malignant Solid Neoplasm, Breast Cancer. Commercial attractiveness rests on addressable patients, treatment-line placement, duration, administration burden, pricing and displacement of entrenched standards. The modality—CAR-T—must demonstrate a benefit large enough to offset class-specific safety and operational costs.

The MCP screen returned 174 matched transaction record(s) under the scope “target-level comparable: EGFR x HER2 x MICA x MICB.” Partner activity is a market-validation signal, but it does not establish net present value.

5. Transaction precedent and economics

Transaction-scope note: No direct asset-specific transaction was returned. The table below shows target-level comparable: EGFR x HER2 x MICA x MICB records as comparable precedents only.

Date	Transaction	Phase at deal	Disclosed economics
2026-09-03	HUTCHMED Announces Licensing Agreement with GSK for KRAS-EGFR-Antibody Conjugate Cancer Therapy	Phase 1/2	US$110.0M upfront; US$1,185.0M milestones; US$1,295.0M stated total
2026-08-17	Henlius and Sandoz Enter Strategic Collaboration to Unlock Global Value of Biosimilars Platform	Discontinued	US$322.0M stated total
2026-07-21	Transaction title not available in English source	NDA/BLA	US$10.3M upfront; US$304.4M milestones

Headline values are not directly comparable. Diligence should normalize upfront cash, equity, development and sales milestones, tiered royalties, opt-in mechanics, cost sharing, change-of-control clauses and geography.

6. IP and freedom-to-operate screen

No asset-specific patent-application milestone appeared in the returned milestone slice. That absence is not a freedom-to-operate conclusion; a dedicated family, claim, ownership, expiry, and legal-status search remains mandatory before signing.

The claim chart should separately test composition or sequence coverage, formulation and dosing, indication and biomarker claims, combinations, manufacturing know-how, prosecution history, term extensions and third-party blocking rights.

7. Principal risks and diligence gates

Cytokine-release syndrome, neurotoxicity, infection, and treatment logistics
Durability of response and antigen escape
Manufacturing scalability, release testing, and site readiness

Cross-functional diligence should also test CMC comparability, supply chain, pharmacovigilance, regulatory correspondence, data integrity, investigator concentration, partner obligations and change-of-control restrictions.

8. Final go/no-go memorandum

HOLD / OPTION