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MacroGenics and Servier Enter Development and Commercialization Agreement for Novel Anti-Cancer Drug
Date:12/1/2011

e Servier has an option to obtain an exclusive license covering the rest of the world.  Prior to the exercise of Servier's option, both parties will fund and conduct specified research and development activities.  MacroGenics will receive a $20 million upfront payment.  If Servier exercises its option upon completion of the Phase 1 study and its expansion cohorts, MacroGenics will receive an option exercise fee which, combined with the up-front and early development milestone payments, will total $60 million. In addition, MacroGenics could receive up to an additional $390 million in clinical, regulatory and commercialization milestone payments. Finally, MacroGenics may receive tiered, double-digit royalties on future net sales. Both parties will share the clinical development costs following the option exercise.

"We are delighted to enter into this collaboration with Servier.  It will significantly broaden and accelerate our clinical plans for MGA271, enabling us to further investigate the multiple solid tumor types for which MGA271 may have activity," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "This important collaboration highlights the rapidly growing excitement surrounding the B7 family of immune regulators in oncology immunotherapy as well as our Fc engineering platform."

"Servier is a world-class pharmaceutical company with a long history of successful innovation and a dedication to research for the benefit of patients," Dr. Koenig continued. "They have an expansive global footprint and are an ideal partner to maximize the potential of MGA271."

MGA271 is currently being tested in an open-label, multi-dose, single-arm, dose-escalation Phase 1 study in patients with refractory B7-H3-expressing neoplasms. The trial employs a companion diagnostic for B7-H3 which will enable prospective screening of patients for expression of the target antigen.  Enrollment of the first dosing cohort has been com
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SOURCE MacroGenics, Inc.
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