MacroGenics in $40M deal with TerSera Therapeutics for sale of Margenza

MacroGenics (MGNX) and TerSera Therapeutics announced that they have entered into an agreement in which TerSera will acquire global rights to MARGENZA or margetuximab-cmkb. MARGENZA was approved by the U.S. Food and Drug Administration FDA n December 2020 in combination with chemotherapy for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens, at least one of which was for metastatic disease. The approval was based on results from the pivotal Phase 3 head-to-head clinical trial or SOPHIA, evaluating the safety and efficacy of MARGENZA vs. Herceptin or trastuzumab , both combined with chemotherapy. Pursuant to the terms of the agreement, TerSera will pay MacroGenics $40M at closing. MacroGenics may receive additional sales milestone payments of up to an aggregate of $35M . The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. “This transaction will enable us to focus our efforts on advancing our pipeline of novel and differentiated oncology product candidates,” said Scott Koenig, M.D., Ph.D., President and Chief Executive Officer of MacroGenics. “We believe TerSera’s established and complementary U.S. commercial infrastructure has the potential to broaden patient access to MARGENZA.”