BioCentury
ARTICLE | Company News

J&J, MacroGenics in second antibody deal

May 19, 2016 1:27 AM UTC

MacroGenics Inc. (NASDAQ:MGNX) jumped $3.02 (17%) to $21.06 on Wednesday after granting the Janssen Biotech Inc. unit of Johnson & Johnson exclusive, worldwide rights to MGD015, a preclinical bispecific antibody against CD3 and an undisclosed target. It was developed using MacroGenics' Dual-Affinity Re-Targeting (DART) technology.

MacroGenics will receive $75 million up front and is eligible for $665 million in milestones, plus double-digit royalties. ...