MacroGenics (NASDAQ:MGNX) inks an exclusive license and collaboration agreement with I-Mab Biopharma to develop and commercialize enoblituzumab in China, Hong Kong, Macau and Taiwan.
I-Mab will lead regional trials and will participate in global studies conducted by MGNX. A Phase 2 trial evaluating the combination of enoblituzumab and PD-1 inhibitor MGA012 in head and neck cancer should launch later this year.
Under the terms of the agreement, MGNX will receive $15M upfront, up to $135M in milestones and tiered double-digit royalties on net sales in the territory.
Enoblituzumab is an anti-B7-H3 monoclonal antibody that incorporates MGNX’s proprietary Fc Optimization technology platform.
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