Incyte entered into an exclusive global collaboration and license agreement potentially worth up to $900 million to develop MacroGenics' experimental PD-1 inhibitor MGA012, the companies announced Wednesday.
"Anti-PD-1 therapy is becoming a mainstay of cancer treatment across multiple tumour types, and we believe the addition of MGA012 to our clinical pipeline is important to fulfilling our long-term development strategy in immuno-oncology," remarked Steven Stein, Incyte's chief medical officer. Stein added that the deal "will allow us to rapidly explore the potential clinical benefit of developing MGA012 as a monotherapy and also combining anti-PD-1 therapy with several of our existing portfolio assets."
Under the deal, Incyte will make an upfront payment of $150 million to MacroGenics to gain rights to MGA012 in all indications, while the latter will retain the right to develop its pipeline assets in combination with the PD-1 inhibitor. In addition, MacroGenics is eligible to receive up to $420 million in development and regulatory milestones, and up to $330 million in commercial milestones, as well as royalties, tiered from 15 percent to 24 percent, on future sales of MGA012 by Incyte.
According to the companies, enrolment in the dose-escalation portion of a Phase I study of MGA012 has been completed and the drug is currently being evaluated as monotherapy across four solid tumour types in the dose-expansion portion of the trial.
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