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MacroGenics Enters Global Research Collaboration and License Agreement with Pfizer
Date:10/26/2010

ROCKVILLE, Md., Oct. 26 /PRNewswire/ -- MacroGenics, Inc., a leader in next-generation antibody platforms and therapeutics, announced today that it has entered into a global research collaboration and license agreement with Pfizer Inc. to discover, develop and commercialize Dual-Affinity Re-Targeting (DART™) products directed at two undisclosed cancer targets. MacroGenics' DART technology is a proprietary, bi-specific antibody platform in which a single recombinant molecule is able to target two different antigens. These DART proteins are amenable to several applications and can potentially be used to redirect the body's cell-destroying, immune effector cells against tumor cells.

"MacroGenics' DART candidates represent a promising new approach to potentially expand treatment options for cancer patients, and we look forward to a collaborative partnership with MacroGenics," stated Dr. Mikael Dolsten, Senior Vice President & President, Worldwide Research and Development, Pfizer. "MacroGenics has established the versatility of its novel DART platform by generating a large array of DART proteins against a variety of different targets."

"We are delighted to establish this strategic collaboration with Pfizer," said Dr. Scott Koenig, MacroGenics' President and Chief Executive Officer. "As we continue to make significant progress in the development of our pipeline of best-in-class product candidates for cancer, autoimmune disease, and infectious disease, this collaboration with Pfizer further validates the promise of our DART platform."

Under the terms of the agreement, MacroGenics will receive an upfront cash payment and research funding. In addition, MacroGenics will be eligible to receive escalating preclinical, clinical, regulatory and commercial milestone payments as well as tiered royalties on sales of products resulting from the collaboration. Further details of the agreement have not been disclosed.

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