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MacroGenics in pair of antibody deals

October 27, 2010 12:02 AM UTC

MacroGenics Inc. (Rockville, Md.) announced a pair of deals on Tuesday to discover, develop and commercialize bi-specific antibody therapeutics using its Dual-Affinity Re-Targeting (DART) platform. Boehringer Ingelheim GmbH (Ingelheim, Germany) and MacroGenics will use DART to discover antibodies against up to 10 combinations of molecular targets in multiple areas, including immunology, cancer, respiratory, cardiometabolic and infectious disease indications. The partners will jointly collaborate on discovery and certain preclinical activities, while Boehringer will be responsible for further development and commercialization.

MacroGenics expects to receive about $60 million from Boehringer during the first three years of the deal, including an upfront payment, annual maintenance fees, R&D funding and research-based milestones. MacroGenics also is eligible for up to an additional $210 million in milestones for each of the 10 DART products, plus tiered royalties. MacroGenics will have an option to co-promote certain products in the U.S. Boehringer said it expects to make a future equity investment in MacroGenics. ...