MacroGenics in $740 million cancer licensing deal with Janssen

US biotech firm MacroGenics (Nasdaq: MGNX) has entered into a collaboration and license agreement for MGD015, a preclinical bispecific molecule, with Janssen Biotech, a subsidiary of US health care giant Johnson & Johnson (NYSE: JNJ).

This product candidate incorporates MacroGenics' proprietary Dual-Affinity Re-Targeting, or DART, platform to simultaneously target CD3 and an undisclosed tumor target for the potential treatment of various hematological malignancies and solid tumors.

Under the terms of the agreement and subject to the termination or expiration of any applicable waiting periods under the Hart-Scott-Rodino Act, MacroGenics will receive a $75 million upfront license fee. Janssen will complete Investigational New Drug (IND)-enabling activities and be fully responsible for future clinical development of MGD015. Assuming successful development and commercialization, MacroGenics could receive up to an additional $665 million in clinical, regulatory and commercialization milestone payments.