MacroGenics, Janssen enter DART deal

MacroGenics Inc. (NASDAQ:MGNX) climbed $4.05 (12%) to $38.58 after announcing it will receive $125 million up front in a deal granting the Janssen unit of Johnson & Johnson (NYSE:JNJ) exclusive worldwide rights to preclinical compound MGD011. The bispecific antibody against CD19 and CD3 was developed using the biotech's Dual-Affinity Re-Targeting (DART) technology.

Janssen will develop MGD011 for B cell malignancies, and an IND submission is slated for 2015. ...