NIAID exercises option to develop MGD014 from MacroGenics

In early September, MacroGenics Inc. (NASDAQ:MGNX) said NIH's National Institute of Allergy and Infectious Disease (NIAID) exercised the first of two options under a September 2015 deal and will provide up to $10.8 million in development funding to advance MGD014 and an undisclosed molecule developed using MacroGenics' Dual-Affinity Re-Targeting (DART) technology.

MacroGenics has submitted an IND to FDA for MGD014, a bispecific antibody targeting CD3 and HIV-infected cells developed using DART technology. MacroGenics believes MGD014 could be the first clinical bispecific molecule targeting an infectious agent accepted by the FDA. The undisclosed compound is also in development to treat HIV...