MacroGenics, J&J deal

MacroGenics granted Johnson & Johnson’s Janssen Biotech Inc. unit exclusive, worldwide rights to preclinical cancer candidate MGD015. MacroGenics will receive $75 million up front and is eligible for up to $665 million in development, regulatory and sales milestones, plus double-digit royalties. Janssen is responsible for future clinical development, but MacroGenics has an option to fund late-stage development in exchange for a profit share in the U.S. and Canada. MacroGenics also retained an option to co-promote MGD015 in the U.S. ...