On June 28, 2016 MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer as well as autoimmune disorders and infectious diseases, reported the closing of the global collaboration and license agreement for MGD015 with Janssen Biotech, Inc (Press release, MacroGenics, JUN 28, 2016, View Source [SID:1234513583]). The agreement was announced on May 18, 2016 and was subject to a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Such waiting period has since expired.

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Under the terms of the agreement, MacroGenics will receive a $75 million upfront license fee. Janssen will be responsible for developing MGD015, a product candidate that incorporates MacroGenics’ proprietary Dual-Affinity Re-Targeting, or DART, platform to simultaneously target CD3 and an undisclosed tumor target for the potential treatment of various hematological malignancies and solid tumors. Assuming successful development and commercialization of MGD015, MacroGenics could receive up to an additional $665 million in clinical, regulatory and commercialization milestone payments. If commercialized, MacroGenics would be eligible to receive double-digit royalties on any global net sales and has the option to co-promote MGD015 with Janssen in the U.S. In addition, MacroGenics may elect to fund a portion of late-stage clinical development to receive a profit share in the U.S. and Canada in lieu of royalties with respect to these territories.

About MGD015

MGD015 is designed to redirect T cells, via their CD3 component, to eliminate cells that overexpress an undisclosed antigen in various hematological malignancies and solid tumors. MacroGenics has demonstrated that MGD015 is able to kill these targeted cells both in vitro and in vivo, with high response rates in several mouse tumor xenograft models. In addition, this product candidate and the Company’s other DART molecules that redirect T cells against cancer targets are manufactured using a conventional antibody platform without the complexity of having to genetically modify T cells from individual patients as required by approaches such as chimeric antigen receptor (CAR) T-cells.

On June 28, 2016 MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer as well as autoimmune disorders and infectious diseases, reported the closing of the global collaboration and license agreement for MGD015 with Janssen Biotech, Inc (Press release, MacroGenics, JUN 28, 2016, View Source [SID:1234513583]). The agreement was announced on May 18, 2016 and was subject to a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Such waiting period has since expired.

Under the terms of the agreement, MacroGenics will receive a $75 million upfront license fee. Janssen will be responsible for developing MGD015, a product candidate that incorporates MacroGenics’ proprietary Dual-Affinity Re-Targeting, or DART, platform to simultaneously target CD3 and an undisclosed tumor target for the potential treatment of various hematological malignancies and solid tumors. Assuming successful development and commercialization of MGD015, MacroGenics could receive up to an additional $665 million in clinical, regulatory and commercialization milestone payments. If commercialized, MacroGenics would be eligible to receive double-digit royalties on any global net sales and has the option to co-promote MGD015 with Janssen in the U.S. In addition, MacroGenics may elect to fund a portion of late-stage clinical development to receive a profit share in the U.S. and Canada in lieu of royalties with respect to these territories.

About MGD015

MGD015 is designed to redirect T cells, via their CD3 component, to eliminate cells that overexpress an undisclosed antigen in various hematological malignancies and solid tumors. MacroGenics has demonstrated that MGD015 is able to kill these targeted cells both in vitro and in vivo, with high response rates in several mouse tumor xenograft models. In addition, this product candidate and the Company’s other DART molecules that redirect T cells against cancer targets are manufactured using a conventional antibody platform without the complexity of having to genetically modify T cells from individual patients as required by approaches such as chimeric antigen receptor (CAR) T-cells.