OR WAIT null SECS
As part of the $900-million deal, Incyte will pay $150 million upfront to develop and commercialize an anti-PD-1 drug candidate from biopharmaceutical company, MacroGenics.
On Oct. 25, 2017, Incyte announced that it has entered into an exclusive global collaboration and license agreement worth up to $900 million with MacroGenics, a clinical-stage biopharmaceutical company focused on monoclonal antibody (mAb)-based therapeutics for cancer, autoimmune disorders, and infectious diseases.
Under the agreement, Incyte has obtained exclusive worldwide rights to develop and commercialize in all indications MacroGenics’ investigational mAb, MGA012, which inhibits programmed cell death protein 1 (PD-1). Incyte will lead global development. MacroGenics retains the right to develop its pipeline assets in combination with MGA012.
The deal is worth up to $900 million, which includes a $150-million upfront payment to MacroGenics upon closing, up to $420 million in potential development and regulatory milestones, and up to $330 million in potential commercial milestones. In addition, if the drug is approved and commercialized, MacroGenics would be eligible to receive royalties, tiered from 15–24%, on Incyte’s future sales of the drug.
In addition, MacroGenics will retain the right to manufacture a portion of both companies’ global clinical and commercial supply needs for the drug at its commercial-scale GMP facility, which is expected to be fully operational in 2018.
The transaction is expected to close in the fourth quarter of 2017.