The FINANCIAL — MacroGenics, Inc., a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, as well as autoimmune disorders and infectious diseases, and Takeda Pharmaceutical Company Limited on September 12 announced the conclusion of their License and Option Agreement for MGD010.
MacroGenics has regained the worldwide rights to MGD010, a bispecific molecule targeting CD32B and CD79B. Takeda’s decision comes earlier than the predefined expiration of its option exercise period and follows Takeda’s recently announced therapeutic area re-prioritization. Takeda’s decision was not based on the ongoing Phase 1 study with MGD010. MacroGenics plans to continue to advance the development of this product candidate based on the positive study results reported to date, according to Takeda.
“We presented promising interim data from our ongoing Phase 1 study of MGD010 in an oral presentation at the Annual European Congress of Rheumatology (EULAR 2016) in London this past June,” said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. “We view Takeda’s early decision to not exercise its option as an opportunity for MacroGenics. This enables us to further develop MGD010 on our own or explore future strategic partnering opportunities with this program.”
“We have enjoyed collaborating with MacroGenics on this development project,” said Takeda’s Emiliangelo Ratti, Global Head Central Nervous System Therapeutic Area Unit. “While our re-prioritization on key therapeutic areas has resulted in a change of direction for Takeda’s role in this program, we look forward to MacroGenics’ continued progress with MGD010 as a potential new therapy for patients suffering from B-cell mediated autoimmune and inflammatory disorders.”
In May 2014, MacroGenics entered into an agreement with Takeda regarding MGD010. Under the terms of that agreement, Takeda received an option to obtain an exclusive worldwide license for MGD010 following the delivery of a data package, including data from a completed, pre-defined Phase 1 study. Takeda has given formal notification it does not intend to exercise this option, allowing MacroGenics to control worldwide development and commercialization rights to MGD010. To date, MacroGenics has led all MGD010 product development activities. Takeda and MacroGenics are also parties to a separate research collaboration that was entered into in September 2014.
Discussion about this post