MacroGenics, Servier deal
MacroGenics granted Servier an exclusive option to license rights to develop and commercialize preclinical mAbs against three undisclosed cancer targets outside North America, Japan, Korea and India. MacroGenics will receive $20 million up front and is eligible for up to $1 billion in clinical, regulatory and commercial milestones for the three programs, plus tiered, double-digit royalties. The biotech is also eligible for up to $80 million in preclinical milestones and option exercise fees.
Servier may exercise its option for one of the programs prior to an IND submission and for each of the other two programs following a Phase I trial. The partners will share clinical and development costs for each program following exercise of the options. The mAbs were generated with MacroGenics' Dual-Affinity Re-Targeting (DART) technology, which creates bifunctional antibody therapeutics. ...