$20 million milestones for MacroGenics from Servier
Servier, France’s largest privately‐held pharmaceutical company, has exercised its exclusive option to develop and commercialize MGD006, a DART‐based product candidate developed by US clinical-stage drug developer MacroGenics (Nasdaq: MGNX).
Servier will gain exclusive development and commercial rights in all countries outside of the USA, Canada, Mexico, Japan, South Korea and India. In those countries, MacroGenics will retain development and commercialization rights. As a result of the exercise, MacroGenics will receive a $15 million payment from Servier.
In addition, the Investigational New Drug application for MGD006 has cleared the 30 day review period by the US Food and Drug Administration triggering an additional $5 million payment to MacroGenics by Servier.
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