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Servier and MacroGenics Enter Broad Strategic Alliance to Develop and Commercialize Three Anti-Cancer DART™ Products20/09/2012
ROCKVILLE, Maryland and SURESNES, France – September 20, 2012 – MacroGenics, Inc., a privately held biotechnology company that develops next generation antibody therapeutics, and Servier, France’s largest privately-held pharmaceutical company, announced today that they have entered into an option agreement for the development and commercialization of Dual-Affinity Re-Targeting (DART™) products directed at three undisclosed tumor targets. MacroGenics’ DART technology is a proprietary, bi-specific antibody platform in which a single recombinant molecule is able to target two different antigens. These DART proteins can be used to redirect the body’s cell-destroying, immune effector cells against tumor cells.
“We are very pleased to be expanding our existing relationship with MacroGenics. Servier partnered with MacroGenics in late 2011 on MGA271, a monoclonal antibody that recognizes B7-H3, a novel member of the B7 family of immune regulators. We believe bi-specific antibodies are an important new frontier in medicine. MacroGenics is well positioned to be a leader in this exciting area, given the robustness and versatility of their DART platform. Furthermore, they have a proven track record in successfully integrating their powerful antibody discovery and bi-specific platforms,” said Stéphane Depil, M.D., Ph.D., in charge of Oncology Research & Development at Servier. “Today’s announcement further underscores Servier’s commitment to develop novel targeted therapies that address significant unmet medical needs for cancer patients,” added Emmanuel Canet, M.D., Ph.D., President Research & Development at Servier. “We continue to look forward to building a long-term strategic collaboration with MacroGenics, a pioneer in developing next-generation antibody therapeutics.”
Under the terms of the agreement, MacroGenics will receive a $20 million upfront payment. MacroGenics retains full development and commercialization rights to the three pre-clinical DART programs in the U.S., Canada, Mexico, Japan, Korea and India, while Servier has the option to obtain an exclusive license covering the rest of the world for each of the programs. Prior to the exercise of Servier’s option, both parties will fund and conduct specified research and development activities. Servier may exercise its option for one of the programs prior to IND submission, and for each of the other two programs upon completion of an initial Phase 1 clinical trial. If Servier exercises such options, MacroGenics will receive option exercise fees, which, when combined with preclinical milestones, would total an additional $80 million. MacroGenics could also receive up to an additional $1 billion in clinical, regulatory and commercialization milestone payments for the three programs. Both parties will share the clinical development costs for each program following the exercise of such option. Finally, MacroGenics may receive tiered, double-digit royalties on future net sales.
“We are delighted to enter into our second collaboration with Servier and our third major pharmaceutical partnership around our DART platform,” said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. “Servier has been an extraordinary partner with significant global capabilities in developing and delivering novel cancer treatments to patients. They will enable us to significantly broaden and accelerate our pipeline of innovative DART-based product candidates."