- MacroGenics (NASDAQ:MGNX) and Zai Lab (NASDAQ:ZLAB) have entered into an exclusive collaboration and license agreement involving up to four immuno-oncology molecules.
- MacroGenics provides rights to Zai Lab for its DART and TRIDENT multi-specific platforms and a lead research program targeting solid tumors.
- For the four programs, each company will contribute intellectual property to generate either CD3- or CD47-based bispecific antibodies.
- Under the terms of the agreement, MacroGenics receives initial consideration of $55M, including an upfront payment of $25M and an equity investment of $30M in MacroGenics’ common stock at $31.30/share.
- In addition, MacroGenics is eligible to receive up to $1.4B in milestone payments and royalties on annual net sales, if the products from the collaboration are commercialized.
- Zai Lab receives commercial rights in Greater China, Japan, and Korea whereas MacroGenics receives commercial rights in all other territories.
- MGNX shares down 2.4% premarket trading at $20.00.