Molecular Templates is a clinical-stage biopharmaceutical company focused on the discovery and development of the next generation of immunotoxins called engineered toxin bodies (ETBs) which are a novel class of therapeutics with unique biology and a differentiated mechanism of action. ETBs are targeted, are designed to induce their own internalization, even against non-internalizing receptors, and destroy tumor cells that are resistant to other modalities. ETBs have been well-tolerated in the clinic to date and show predictable pharmacokinetic and pharmacodynamic effects.