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Published: Feb 05, 2014
ROCKVILLE, Md. and SURESNES, France, Feb. 5, 2014 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (Nasdaq:MGNX), a clinical-stage biopharmaceutical company focused on discovering and identifying innovative monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases, today announced that Servier, France's largest privately-held pharmaceutical company, has exercised its exclusive option to develop and commercialize MGD006, a DART-based product candidate developed by MacroGenics. Servier will gain exclusive development and commercial rights in all countries outside of the U.S., Canada, Mexico, Japan, South Korea and India. In those countries, MacroGenics will retain development and commercialization rights. As a result of the exercise, MacroGenics will receive a $15 million payment from Servier. In addition, the Investigational New Drug (IND) application for MGD006 has cleared the 30 day review period by the U.S. Food and Drug Administration (FDA), triggering an additional $5M payment to MacroGenics by Servier.
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