Servier is paying MacroGenics $20 million up front as part of a broad strategic collaboration to develop and commercialize three bispecific antibodies based on the latter’s DART™ (dual-affinity retargeting) platform against specific cancer targets for solid and blood cancer. The firms are already collaborating on development of MacroGenics’ B7-H3-targeting monoclonal antibody candidate MGA271.
Under terms of the latest deal MacroGenics retains development and commercialization rights to the three preclinical programs in the U.S., Canada, Mexico, Japan, Korea, and India. Servier has an option to exclusively license each program in the rest of the world. Servier can exercise its option for one of the programs prior to IND submission, and on completion of an initial Phase I study for each of the other two programs.
Macrogenics could receive combined option exercise fees and clinical milestone payments of $80 million, and up to another $1 billion in clinical, regulatory, and commercialization milestones for the three programs, plus sales royalties. In advance of any option exercise the firms will jointly fund and conduct R&D.
“We are very pleased to be expanding our existing relationship with MacroGenics,” states Stéphane Depil, M.D., who heads oncology R&D at Servier. “We believe bispecific antibodies are an important new frontier in medicine. MacroGenics is well-positioned to be a leader in this exciting area, given the robustness and versatility of their DART platform. Furthermore, they have a proven track record in successfully integrating their powerful antibody discovery and bispecific platforms.”