MacroGenics (MGNX) and Zai Lab Limited (ZLAB) announced that the companies have entered into an exclusive collaboration and license agreement involving three immuno-oncology programs from MacroGenics’ pipeline of product candidates: Margetuximab, an immune-optimized anti-HER2 monoclonal antibody currently being evaluated in Phase 3 metastatic breast cancer with anticipated topline results in the first quarter of 2019. MGD013, a first-in-class bispecific DART molecule designed to provide coordinate blockade of PD-1 and LAG-3 for the potential treatment of a range of solid tumors and hematological malignancies. An undisclosed multi-specific TRIDENT molecule in preclinical development. Zai Lab obtains regional development and commercialization rights for these programs in mainland China, Hong Kong, Macau and Taiwan. Zai Lab will lead clinical development in its territory by leveraging its regulatory and clinical development expertise and broad regional network of investigators. As part of the collaborative clinical development effort, Zai Lab and MacroGenics intend to initiate a global study using combination regimens containing margetuximab in order to maximize potential clinical benefit in gastric cancer, the fifth most common cancer in the world and the second most common in China. Under the terms of the agreement, MacroGenics will receive an upfront cash payment of $25M and will be eligible to receive up to $140M in potential development and regulatory-based milestone payments. In addition, Zai Lab would pay MacroGenics double-digit royalties on annual net sales of the assets, which may be subject to adjustment in specified circumstances.
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