MacroGenics in deal to develop a novel bispecific molecule
US biotech firm MacroGenics (Nasdaq: MGNX) has entered into a research collaboration and license agreement with Swiss pharma giant Roche (ROG: SIX) to jointly discover and develop novel bispecific molecules to undisclosed targets.
During the research term, both companies will leverage their respective platforms, including MacroGenics' DART platform and Roche's CrossMAb and DutaFab technologies to select a bispecific format and lead product candidate. Roche would then further develop and commercialize any such product candidate.
Under the terms of the agreement, Roche will pay MacroGenics a modest upfront payment of $10 million. MacroGenics will also be eligible to receive up to $370 million in potential milestone payments and royalties on future sales. Further details about the transaction are not disclosed.
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