(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
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.
“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
Under the terms of the agreement, Janssen will pay
an upfront payment of
and will be responsible for funding all expenses.
will also be eligible to receive up to
in potential milestone payments and tiered royalties on worldwide product sales. Further details about the transaction are not disclosed.
Read the full article at: ir.macrogenics.com
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