MacroGenics sells rights for two autoimmune disorder candidates

11 May 2018

US biotech MacroGenics (Nasdaq: MGNX) has inked deals with Provention Bio involving two clinical-stage assets. Provention has acquired all rights to teplizumab, to be further developed as PRV-031, and licensing rights to MGD010 for development as PRV-3279.

"Our agreements with MacroGenics expand Provention's pipeline with two additional clinical-stage assets that align perfectly with our mission to intercept or prevent immune-mediated diseases," explained Ashleigh Palmer, co-founder and chief executive of Provention Bio, adding: "In less than a year since announcing our founding financing, Provention has secured five clinical stage assets in the burgeoning field of disease prevention and interception."

"Given MacroGenics' current focus on its immuno-oncology pipeline, we believe Provention Bio will be an excellent partner to progress these programs and potentially bring these innovative medicines to patients suffering from serious autoimmune disorders," explained Scott Koenig, president and chief executive of MacroGenics.

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