October 2022 Top Biopharma Deal: MacroGenics – Gilead for blood cancer drug MGD024

by | Nov 4, 2022

October 2022 Top Biopharma Deal Upfront

MacroGenics research partnership with Gilead with an option to license MGD024

Announced: October 17, 2022

Total Deal Value: $1,760M

Upfront Cash: $60M

Upfront Equity: n/a

Option Payments: Undisclosed option exercise fees

Milestones: $1,700M dev. and sales milestones

Royalty: Undisclosed tiered, double-digit royalties for MGD024 and a flat royalty for two other therapies

Cost and Profit Split: n/a

The Asset:

MacroGenics’ MGD024, an investigational, bispecific CD123 × CD3 DART molecule for blood cancers, including AML and MDS

Deal Structure:

Option to License

Partnership Features:

Collaborative Development, No Shared Cost

The Details:

  • MacroGenics signed a research partnership with Gilead to develop MacroGenics’ MGD024, a bispecific antibody, and two additional bispecific therapies using MacroGenics’ DART platform with an exclusive, worldwide option to license MGD024 for the treatment of certain blood cancers, including acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).
  • MacroGenics will be responsible for Phase I clinical trials of MGD024 as a monotherapy and combination therapy for multiple indications. Gilead may exercise its option at predetermined decision points.
  • MacroGenics will receive $60M in cash up front. MacroGenics is eligible to receive up to $1.7B in development, regulatory, and commercial milestone payments, and undisclosed option exercise fees, plus tiered, double-digit royalties for MGD024 and a flat royalty for two other therapies.pringWorks will receive a $75M equity investment in shares of common stock at a premium to the 30-day volume-weighted average share price on Sept 2, 2022, and is eligible to receive up to $550M in development and commercial milestones.

Last Month:

Congrats to MacroGenics and Gilead for landing DealForma’s Oct 2022 Top Biopharma Deal. Last month’s Deal of the Month was SpringWorks – GSK for multiple myeloma drug Nirogacestat in combination with Blenrep. Read about it here.

DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.

Want data for your analysis? Want us to do it? Subscribers get both.

Schedule your demo of the DealForma database to see how we help you get better reports done faster.

28,664

Deal Profiles

18,893

Funding Rounds

32,123

Company Profiles

22,077

Product Profiles

119K+

Clinical Trials

3,967

Business Developers

Specifically for Biotech, Pharma, Device, and Diagnostics

Get more done.

Stop cleaning data or getting lost in legacy databases. We built DealForma to help you be better and faster at business research. Schedule your customized demo to see how DealForma helps you impress your boss and sign-off early.

More Research by DealForma

February 2023 Top Biopharma Deal: Axsome – Pharmanovia for EDS drug Sunosi

February 2023 Top Biopharma Deal: Axsome – Pharmanovia for EDS drug Sunosi

The top deal upfront for Feb. 2023 was Axsome granting Pharmanovia exclusive rights to develop and commercialize Sunosi (solriamfetol), a dual-acting dopamine and norepinephrine reuptake inhibitor in Europe and certain Middle East and North Africa (MENA) countries for the treatment of excessive daytime sleepiness (EDS) due to narcolepsy or obstructive sleep apnea (OSA). Pharmanovia will be responsible for marketing Sunosi in Europe and MENA regions and will assume responsibility for all local clinical and regulatory activities. Axsome will receive $66M up front and is eligible for up to $101M in sales and other milestones, plus undisclosed mid-twenties royalties.

read more
January 2023 Top Biopharma Deal: Hutchmed – Takeda for cancer drug fruquintinib

January 2023 Top Biopharma Deal: Hutchmed – Takeda for cancer drug fruquintinib

The top deal upfront for Jan. 2023 was Hutchmed granting Takeda exclusive, worldwide rights excluding China, Hong Kong, and Macau to develop and commercialize Hutchmed’s fruquintinib, an oral vascular endothelial growth factor receptors 1/2/3 tyrosine kinase inhibitor for the treatment of refractory metastatic colorectal cancer (CRC). Hutchmed will receive $400M up front and is eligible for up to $730M in development, regulatory, and commercial milestones, plus royalties.

read more
December 2022 Top Biopharma Deal: Akeso – Summit for Cancer Drug Ivonescimab

December 2022 Top Biopharma Deal: Akeso – Summit for Cancer Drug Ivonescimab

The top deal upfront for Dec. 2022 was Akeso granting Summit exclusive rights to develop and commercialize its PD-1 / VEGF bispecific antibody ivonescimab for the treatment of cancer including non-small cell lung cancer (NSCLC) in the U.S., Canada, Europe, and Japan. Akeso will retain rights to ivonescimab for the rest of the world, including China. Additionally, Summit signed a supply agreement to purchase certain drug substances for clinical and commercial use. Akeso will receive $500M up front and is eligible for up to $4.5B in regulatory and commercial milestones, plus low double-digit royalties.

read more
November 2022 Top Biopharma Deal: POINT – Lantheus for cancer drugs PNT2002 and PNT2003

November 2022 Top Biopharma Deal: POINT – Lantheus for cancer drugs PNT2002 and PNT2003

The top deal upfront for Nov 2022 was the POINT – Lantheus exclusive, worldwide ex-Asia license to co-develop and commercialize POINT’s PNT2002, a PSMA-targeted 177 Lu-based radiopharmaceutical therapy, and PNT2003, a somatostatin receptor (SSTR) targeted radioligand therapy by combining POINT’s radioligand development expertise with Lantheus’ commercial expertise in PSMA PET and radiopharmaceuticals for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Additionally, POINT will be responsible for the funding, development, and manufacturing of PNT2002 and PNT2003 while Lantheus will be responsible for NDA approval and development and commercial expenses. POINT will receive $250M (for PNT2002)and $10M (for PNT2003) up front and is eligible for up to $281M and $34.5M in development milestones and up to $1.28B and $275M in commercial milestones, plus 20% and 15% royalties for PNT2002 and PNT2003, respectively.

read more
September 2022 Top Biopharma Deal: SpringWorks – GSK for Nirogacestat in combination with Blenrep

September 2022 Top Biopharma Deal: SpringWorks – GSK for Nirogacestat in combination with Blenrep

The top deal upfront for Sep 2022 was the SpringWorks expanded clinical collaboration with GSK for Nirogacestat in combination with GSK’s Blenrep. SpringWorks granted GSK non-exclusive rights to develop and commericalize Nirogacetat,an oral gamma-secretase inhibitor, in combination with GSK’s Blenrep, an antibody-drug conjugate targeting B-cell maturation antigen for the treatment of multiple myeloma. SpringWorks will receive a $75M equity investment in shares of common stock at a premium to the 30-day volume-weighted average share price on Sept 2, 2022, and is eligible to receive up to $550M in development and commercial milestones.

read more
August 2022 Top Biopharma Deal: Sanofi – Innovent for Cancer Drugs SAR408701 and SAR444245

August 2022 Top Biopharma Deal: Sanofi – Innovent for Cancer Drugs SAR408701 and SAR444245

The top deal upfront for Aug 2022 was the Sanofi development and commercialization deal with Innovent for SAR408701 and SAR444245. Sanofi granted Innovent exclusive rights to develop and commercialize its SAR408701 (tusamitamab ravtansine) for the treatment of non-small cell lung cancer (NSCLC) and gastric cancer in China. Additionally, Sanofi and Innovent will co-develop SAR444245 for the treatment of multiple cancer drugs. Sanofi will invest EUR300M (approx. $306.6M) in Innovent up front at HK$42.42 (approx. $5.40) per share in Innovent common stock. Sanofi is eligible for EUR80M (approx. $81.7M) in development milestones plus royalties for SAR408701, while Innovent is eligible to receive EUR60M (approx. $61.3M) in development milestones and royalties for SAR444245.

read more
July 2022 Top Biopharma Deal: Orion – MSD for Prostate Cancer Drug ODM-208

July 2022 Top Biopharma Deal: Orion – MSD for Prostate Cancer Drug ODM-208

The top deal upfront for July 2022 was the Orion co-development and co-commercialization deal with MSD for ODM-208. Orion granted MSD rights to co-develop and co-commercialize ODM-208 for the treatment of metastatic castration-resistant prostate cancer. Orion and MSD have an option to convert the co-development and co-commercialization agreement into a global exclusive license to MSD. Upon exercising the option, MSD will retain the responsibility for all accrued and future development and commercialization expenses associated with the program. Orion will receive $290M up front, including $221M recognized as income, and approximately $60.3M reserved to cover Orion’s share of ODM-208 future development cost. Orion is eligible for undisclosed development and commercialization milestones, plus double-digit tiered royalties.

read more
June 2022 Top Biopharma Deal: Sanofi – Regeneron Pharmaceuticals for Cancer/Inflammation drug Libayo

June 2022 Top Biopharma Deal: Sanofi – Regeneron Pharmaceuticals for Cancer/Inflammation drug Libayo

The top deal upfront for June 2022 was the Sanofi development and commercialization deal with Regeneron for Libtayo (Amended Agreement). Sanofi granted Regeneron exclusive, worldwide rights to develop and commercialize Libtayo for the treatment of cancer. Regeneron and Sanofi signed a license agreement in 2015 to develop Libtayo. Sanofi will receive $900M up front and is eligible to receive up to a $100M milestone upon the first approval by either the FDA or EMA for Libtayo in combination with chemotherapy for first-line treatment of certain patients with NSCLC and up to $100M as a sales milestone in the next two years, plus 11% royalties.

read more
May 2022 Top Biopharma Deal: Dragonfly Therapeutics – Gilead Sciences NK cell engager for cancer/inflammation

May 2022 Top Biopharma Deal: Dragonfly Therapeutics – Gilead Sciences NK cell engager for cancer/inflammation

The top deal upfront for May 2022 was the Dragonfly Therapeutics development and commercialization deal with Gilead Sciences for solid tumors. Gilead has an exclusive, worldwide option to develop and commercialize additional NK cell engager programs by using its Tri-specific NK Engager (TriNKET) platform after the completion of certain preclinical activities. Dragonfly will receive $300M up front and is eligible to receive undisclosed opt-in payments and development, regulatory, and commercial milestones, plus up to 20% royalties.

read more
April 2022 Top Biopharma Deal: Harbour BioMed – AstraZeneca Bispecific Antibody for Cancer Treatment

April 2022 Top Biopharma Deal: Harbour BioMed – AstraZeneca Bispecific Antibody for Cancer Treatment

The top deal upfront for April 2022 was the Harbour BioMed development and commercialization deal with AstraZeneca for solid tumors. AstraZeneca will be responsible for all costs for development and commercialization. HBM will receive $25M up front and is eligible for up to $325M in development, regulatory, and commercial milestones, plus undisclosed tiered royalties.

read more

You met on Zoom. Now it's Deal Time.

With thousands of company profiles and a decade of deals specifically in biopharma and medtech, you'll take the guesswork out of deal comps. Schedule your customized demo to see how DealForma helps you win that term sheet with better data.