- MacroGenics (NASDAQ:MGNX) closes its previously announced collaboration and license agreement with Incyte (NASDAQ:INCY) granting the latter exclusive global rights to develop and commercialize MGA012, an anti-PD-1 monoclonal antibody, for all indications.
- Under the terms of the deal, MacroGenics will receive $150M upfront, up to $420M in development and regulatory milestones, up to $330M in commercial milestones and tiered royalties from 15 - 24% on net sales.
- MacroGenics retains the right to develop its own pipeline assets in combination with MGA012. In this scenario, Incyte will commercialize MGA012 and MacroGenics will commercialize its own assets. It also retains the right to manufacture a portion of both companies' clinical and commercial supply requirements of MGA012.
- Previously: MacroGenics skyrockets after Incyte deal (Oct. 25)
- Now read: Incyte: No Major Catalyst, Rising Expenses, Stretched Valuation
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