MacroGenics and Servier have entered into an option pharma partners agreement for the development and commercialization of Dual-Affinity Re-Targeting (DART) products directed at three undisclosed tumor targets.
MacroGenics’ DART technology is a proprietary, bi-specific antibody platform in which a single recombinant molecule is able to target two different antigens.
Under the terms of this pharma partners agreement, MacroGenics will receive a $20 million upfront payment.
MacroGenics retains full development and commercialization rights to the three pre-clinical DART programs in the U.S., Canada, Mexico, Japan, Korea and India, while Servier has the option to obtain an exclusive license covering the rest of the world for each of the programs as confirmed in the pharma partners pact.
Prior to the exercise of Servier’s option, both parties will fund and conduct specified research and development activities.
Servier may exercise its option for one of the programs prior to IND submission, and for each of the other two programs upon completion of an initial Phase 1 clinical trial.
If Servier exercises such options, MacroGenics will receive option exercise fees, which, when combined with preclinical milestones, would total an additional $80 million.
Under the terms of this pharma partners agreement, MacroGenics could also receive up to an additional $1 billion in clinical, regulatory and commercialization milestone payments for the three programs.
Both parties will share the clinical development costs for each program following the exercise of such option, as agreed in the pharma partners pact.
Finally, MacroGenics may receive tiered, double-digit royalties on future net sales.
For further deal information visit Current Agreements (subscription required)
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