Molecular Templates is a clinical stage biopharmaceutical company that develops next-generation immunotoxins for the treatment of cancer and other serious diseases. These immunotoxins are derived from a bacterial toxin that has been genetically engineered to reduce its immunogenicity. This new toxin scaffold has been fused to randomized scFv fragments and expressed on phage display to create screenable libraries of next generation immunotoxins called Engineered Toxin Bodies (ETBs). These ETBs retain the parent toxin's ability to force internalization, route through the cell in an anticipatory manner, and enzymatically and irreversibly inhibit ribosome activity but have substantially reduced immunogenicity compared to the parent bacterial toxin. The company's lead compound, MT-3724, is the first immunotoxin to target CD20 and will enter clinical trials for the treatment on refractory non-Hodgkin's lymphoma in the fourth quarter of 2014.