11/11/2013 11:57:43 AM
ROCKVILLE, Md., Nov. 11, 2013 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (Nasdaq:MGNX) today announced that Boehringer Ingelheim has nominated a bi-specific antibody therapeutic candidate generated by MacroGenics' Dual-Affinity Re-Targeting (DART™) technology for pre-clinical development. This will trigger a $5 million milestone payment to MacroGenics under the companies' October 2010 agreement to discover, develop and commercialize up to 10 DART-based therapeutics, which may span multiple therapeutic areas. In addition, Boehringer Ingelheim will pay a research maintenance payment of $4 million to MacroGenics in the fourth quarter of 2013.
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