Date: 2015-03-16
Type of information: Milestone
Compound: product candidates based ib MacroGenics\' Dual-Affinity Re-Targeting (DART®) proprietary platform
Company: MacroGenics (USA - MD) Takeda Pharmaceutical (Japan)
Therapeutic area: Autoimmune diseases
Type agreement: developement commercialisation
Action mechanism:
Disease:
Details: * On September 29, 2014, MacroGenics and Takeda Pharmaceutical announced that they have entered into a collaboration agreement to develop and commercialize up to four product candidates. These four research programs are in addition to MGD010, which was the subject of a prior agreement announced in May 2014. Each of these product candidates will be directed against jointly selected pairs of molecular targets and incorporate MacroGenics\' Dual-Affinity Re-Targeting (DART®) proprietary platform.
Financial terms: Under the terms of this second agreement, Takeda receives an option to obtain an exclusive worldwide license for each of the four product candidates and will fund all research and development activities related to the programs, including reimbursement of MacroGenics\' expenses. Assuming successful development and commercialization by Takeda, MacroGenics could receive up to an additional approximately $400 million in program initiation, pre-clinical, clinical, regulatory and commercialization milestone payments for each of four potential product candidates. If commercialized, MacroGenics would receive double-digit royalties on any global net sales and has the option to co-promote each product candidate with Takeda in the United States. Finally, MacroGenics may elect to fund a portion of Phase 3 clinical development of each product candidate in exchange for a North American profit share.
Latest news: * On March 16, 2015, MacroGenics announced the initiation of a Phase 1 study with MGD010, its first Dual-Affinity Re-Targeting (DART®) molecule being developed for patients with autoimmune disorders. As a result of the study initiation, MacroGenics will receive a $3 million milestone payment from its partner, Takeda Pharmaceutical.
