The deal focuses on MGD011, a humanized CD19 x CD3 bispecific DART protein that has potential for the treatment of B-cell hematological malignancies.
As part of the deal, Janssen will pay MacroGenics a $50 million upfront license fee.
In addition, Johnson & Johnson Innovation – JJDC, will repurchase 1,923,077 new shares of MacroGenics common stock at $39.00 per share, totally about $75 million.
Under the agreement, Janssen will handle development of MGD011 after submission of the IND, planned for 2015.
If successful, MacroGenics may receive up to an additional $575 million in various milestone payments.
If the company chooses, MacroGenics could help fund late-stage clinical development in exchange for profit sharing in the U.S. and Canada.
For further deal information visit Current Agreements (subscription required)
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