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Jan 7, 2013

Gilead Earmarks Over $115M in MacroGenics Deal

  • MacroGenics entered into a license agreement with Gilead Sciences for the development and commercialization of Dual-Affinity Re-Targeting (DART™) products directed at up to four undisclosed targets. Under the agreement, MacroGenics could receive a total of up to $30 million in license fee payments, and up to an additional $85 million in preclinical milestones across the four DART programs. MacroGenics could also receive approximately $1 billion in clinical, regulatory, and commercialization milestone payments if all four programs achieve the requisite milestones. Finally, MacroGenics may receive tiered (up to low double-digit) royalties on future net sales.

    Gilead has exclusive worldwide rights for three of the programs. For one program, MacroGenics retains development and commercialization rights outside of North America, Europe, Australia, and New Zealand, which encompasses multiple major markets including Japan, China, Korea, Brazil, Russia, and others. Gilead will fully fund MacroGenics' research activities with respect to the four programs.

    MacroGenics' DART technology is a proprietary, bi-specific antibody platform in which a single recombinant molecule is able to target two different antigens. Other companies to collaborate with MacroGenics on its DART platform are Servier, Boehringer Ingelheim, and Pfizer.

    "As the fourth major collaboration around our DART platform in the past two years, this deal represents the latest validation of our ongoing efforts," said Scott Koenig, M.D., Ph.D., president and CEO of MacroGenics.

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