MacroGenics, Gilead in mAb DART deal
MacroGenics Inc. (Rockville, Md.) and Gilead Sciences Inc. (NASDAQ:GILD) partnered to develop and commercialize preclinical mAbs generated with MacroGenics' Dual-Affinity Re-Targeting (DART) technology against up to four targets. Gilead said the undisclosed targets are in cancer and "other life-threatening diseases." MacroGenics will receive $30 million in license fee payments and is eligible for up to $85 million in preclinical milestones for the four programs. The biotech is also eligible for up to $1 billion in clinical, regulatory and commercialization milestones for the four programs, plus tiered royalties. Gilead, which will fully fund MacroGenics' research activities, will have exclusive, worldwide rights to three of the programs. MacroGenics retains rights to one undisclosed program outside of North America, Europe, Australia and New Zealand. The companies are not disclosing details. Gilead was up $1.16 to $76.88 on Monday. ...