Takeda, MacroGenics Sign Drug Development Pact
MacroGenics, Inc., a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibodies for treating cancer and autoimmune diseases, and Takeda Pharmaceutical Company Limited, have formed an option agreement for developing and commercializing MGD010, which is in preclinical development for treating autoimmune diseases.
This product candidate incorporates MacroGenics' proprietary platform for Dual-Affinity Re-Targeting (DART) to simultaneously engage CD32B and CD79B, which are two B-cell surface proteins. The DART platform enables the targeting of multiple antigens or cells by using a single molecule with an antibody-like structure. The company has created more than 100 DART-based molecules, or DARTs, which have been configured for the potential treatment of cancer, autoimmune disorders, and infectious disease. The company expects to advance its first two DARTs into clinical development in 2014.
Under the terms of the agreement, MacroGenics will receive an upfront payment of $15 million, and Takeda receives an option to obtain an exclusive worldwide license for MGD010 following the completion of a pre-defined Phase Ia study.MacroGenics will lead all product development activities until that time. If Takeda exercises its option, it will assume responsibility for future development and pay MacroGenics an option exercise fee which, when combined with the upfront payment and an early-development milestone, will total $33 million. Assuming successful development and commercialization of MGD010, MacroGenics could receive up to an additional $468.5 million in clinical, regulatory, and commercialization milestone payments. If commercialized, MacroGenics would receive double-digit royalties on any global net sales and has the option to co-promote MGD010 with Takeda in the United States. Finally, MacroGenics may elect to fund a portion of Phase III clinical development in exchange for a North American profit share.
Source: Takeda Pharmaceutical