On January 4, 2018 MacroGenics, Inc. (Nasdaq: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases, reported that it had entered into a research collaboration and license agreement with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. to jointly discover and develop novel bispecific molecules to undisclosed targets (Press release, MacroGenics, JAN 4, 2018, View Source [SID1234522890]). During the research term, both companies will leverage their respective platforms, including MacroGenics’ DART platform and Roche’s CrossMAb and DutaFab technologies to select a bispecific format and lead product candidate. Roche would then further develop and commercialize any such product candidate.

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"MacroGenics and Roche are both leaders in the field of bispecifics and have each advanced numerous molecules into clinical testing. By combining our two companies’ respective scientific talent, technology platforms and experience, we hope to generate a compelling product candidate to address unmet patient needs," said Scott Koenig, M.D., Ph.D., President and Chief Executive Officer of MacroGenics.

Under the terms of the agreement, Roche will pay MacroGenics an upfront payment of $10 million. MacroGenics will also be eligible to receive up to $370 million in potential milestone payments and royalties on future sales. Further details about the transaction are not disclosed.