MacroGenics Reaches Research Collaboration With Janssen; To Get Up To $332 Mln Payments

(RTTNews) - MacroGenics Inc. (MGNX) said that it has reached a research collaboration and global license agreement to develop a preclinical bispecific molecule with Janssen Biotech Inc. The research collaboration will incorporate MacroGenics' proprietary DART platform to enable simultaneous targeting of two undisclosed targets in a therapeutic area outside oncology.

As per the terms of the deal, Janssen will pay MacroGenics an upfront payment of $20 million and will be responsible for funding all expenses. MacroGenics will also be eligible to receive up to $312 million in potential milestone payments and tiered royalties on worldwide product sales. Further details about the transaction are not disclosed.