ZLAB - MacroGenics collaborates with Zai Lab to develop bispecific antibodies in oncology

MacroGenics (MGNX) and Zai Lab (ZLAB) have entered into an exclusive collaboration and license agreement involving up to four immuno-oncology molecules.MacroGenics provides rights to Zai Lab for its DART and TRIDENT multi-specific platforms and a lead research program targeting solid tumors. For the four programs, each company will contribute intellectual property to generate either CD3- or CD47-based bispecific antibodies. Under the terms of the agreement, MacroGenics receives initial consideration of $55M, including an upfront payment of $25M and an equity investment of $30M in MacroGenics’ common stock at $31.30/share.In addition, MacroGenics is eligible to receive up to $1.4B in milestone payments and royalties on annual net sales, if the products from the collaboration are commercialized.Zai Lab receives commercial rights in Greater China, Japan, and Korea whereas MacroGenics receives commercial rights in all other territories.MGNX shares down 2.4% premarket trading at $20.00.

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MacroGenics collaborates with Zai Lab to develop bispecific antibodies in oncology