On December 18, 2020 MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer, reported a research collaboration and global license agreement to develop a preclinical bispecific molecule with Janssen Biotech, Inc (Press release, MacroGenics, DEC 18, 2020, View Source [SID1234573039]). The research collaboration will incorporate MacroGenics’ proprietary DART platform to enable simultaneous targeting of two undisclosed targets in a therapeutic area outside oncology.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are excited to collaborate with Janssen, which we believe is a leader in the field of next generation antibody-based therapeutics, by bringing together our two companies’ respective scientific talent and experience to leverage our DART platform to generate a compelling product candidate that addresses unmet patient needs," said Scott Koenig, M.D., Ph.D., President and Chief Executive Officer of MacroGenics.

Under the terms of the agreement, Janssen will pay MacroGenics an upfront payment of $20 million and will be responsible for funding all expenses. MacroGenics will also be eligible to receive up to $312 million in potential milestone payments and tiered royalties on worldwide product sales. Further details about the transaction are not disclosed.