MacroGenics, Servier deal

MacroGenics said Servier exercised its option to acquire rights to develop and commercialize MGD006 outside of North America, Japan, South Korea and India. MacroGenics, which will retain rights in those regions, will receive a $20 million payment triggered by the option exercise and for having its IND for MGD006 clearing FDA's 30-day review period. Next quarter, MacroGenics expects to start Phase I testing of MGD006 to treat relapsed and refractory acute myelogenous leukemia (AML). MGD006 is a bi-specific antibody against CD3 and CD123 developed using MacroGenics' Dual-Affinity Re-Targeting (DART) technology, which creates bifunctional antibody therapeutics.

In September 2012, MacroGenics granted Servier an exclusive option to license rights to develop and commercialize MGD006, MGD007 and a third DART-based molecule outside of North America, Japan, South Korea and India. MacroGenics is eligible for up to $1 billion in clinical, regulatory and commercial milestones for the three programs, plus tiered, double-digit royalties. The partners will share clinical and development costs for each program following exercise of the options. MGD007, a bispecific antibody developed using MacroGenics' DART technology is in preclinical testing, with a Phase I trial slated to start in 2H14 (see BioCentury, Sept. 24, 2012). ...