(NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer, announced today a research collaboration and global license agreement to develop a preclinical bispecific molecule with
MacroGenics, Inc.
The research collaboration will incorporate
Janssen Biotech, Inc.
proprietary DART® platform to enable simultaneous targeting of two undisclosed targets in a therapeutic area outside oncology.
MacroGenics’
“We are excited to collaborate with Janssen, which we believe is a leader in the field of next generation antibody-based therapeutics, by bringing together our two companies’ respective scientific talent and experience to leverage our DART platform to generate a compelling product candidate that addresses unmet patient needs,” said
Scott Koenig , M.D., Ph.D., President and Chief Executive Officer of
.
MacroGenics
Under the terms of the agreement, Janssen will pay
an upfront payment of
MacroGenics
and will be responsible for funding all expenses.
$20 million
will also be eligible to receive up to
MacroGenics
in potential milestone payments and tiered royalties on worldwide product sales. Further details about the transaction are not disclosed.
$312 million
Read the full article at: ir.macrogenics.com
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Over the past 11 years, Chris has grown BioBuzz into a respected brand that is recognized for its community building, networking events and news stories about the local biotech industry. In addition, he runs a Recruiting and Marketing Agency that helps companies attract top talent through a blended model that combines employer branding and marketing services together with a high powered recruiting solution.
