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news.MacroGenics has granted global rights to the breast cancer drug MARGENZA (margetuximab) to TerSera Therapeutics.
MacroGenics is into the discovery, development, manufacturing, and commercialization of monoclonal antibody-based therapies for cancer treatment. Credit: AVAKA photo from Pixabay.
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Under the terms of the agreement, TerSera will pay MacroGenics $40m upon closing.
MacroGenics is also eligible for up to $35m in additional sales milestone payments.
The transaction is expected to be finalised in the fourth quarter of 2024, subject to standard closing conditions.
TerSera CEO Edward Donovan said: “MARGENZA is an important treatment option for patients with metastatic HER2+ breast cancer.
“We are very excited to add MARGENZA to our existing oncology portfolio, deepening our commitment to the treatment of patients with breast cancer.”
MARGENZA, a HER2/neu receptor antagonist, received FDA approval in December 2020. It is used in combination with chemotherapy for adult patients with metastatic HER2-positive breast cancer who have previously undergone two or more anti-HER2 regimens.
The approval was based on the SOPHIA Phase III clinical trial, which assessed MARGENZA’s safety and efficacy against Herceptin, both in combination with chemotherapy.
MacroGenics president and CEO Scott Koenig said: “This transaction will enable us to focus our efforts on advancing our pipeline of novel and differentiated oncology product candidates.
“We believe TerSera’s established and complementary US commercial infrastructure has the potential to broaden patient access to MARGENZA.”
In July 2024, MacroGenics received $100m in milestone payments from Incyte related to the development of ZYNYZ (retifanlimab), an intravenous PD-1 inhibitor approved in the US for adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma.
This milestone followed a collaboration agreement established in the same month. Since the beginning of their partnership in 2017, MacroGenics has received a total of $215m in milestones and an upfront payment of $150m.
A biopharmaceutical company, MacroGenics is into the discovery, development, manufacturing, and commercialization of monoclonal antibody-based therapies for cancer treatment.
