Takeda Pharmaceutical Company has ended its license and option agreement for an anti-cancer drug candidate with MacroGenics, a Rockville, Maryland-based clinical-stage biopharmaceutical company focused on monoclonal antibody-based cancer therapeutics. MacroGenics has regained the worldwide rights to the drug candidate, MGD010, a bispecific molecule targeting the B-cell antigen receptors, CD32B and CD79B. Takeda’s decision comes earlier than the predefined expiration of its option exercise period and follows Takeda’s recent announcement that it is re-prioritizing in key therapeutic areas.

MacroGenics plans to continue advancing development of this product candidate based on positive study results reported to date.

Takeda and MacroGenics entered the agreement for MGD010 in May 2014. Under the agreement, Takeda received an option to obtain an exclusive worldwide license for MGD010 following the delivery of a data package. Takeda has given formal notification it does not intend to exercise this option, allowing MacroGenics to control worldwide development and commercialization rights to MGD010. To date, MacroGenics has led all MGD010 product development activities. Takeda and MacroGenics are also parties to a separate research collaboration that was entered into in September 2014.

Source: Takeda