MacroGenics To Sell Margenza To TerSera Therapeutics For Initial $40 Mln At Closing The Deal

(RTTNews) - MacroGenics, Inc. (MGNX) and TerSera Therapeutics LLC Tuesday said they have reached an agreement to sell global rights to MacroGenics' breast cancer treatment, Margenza to TerSera.

As per the deal, TerSera will pay MacroGenics $40 million at closing, which is expected in the fourth quarter of 2024. MacroGenics is also entitled to receive additional tiered payments of up to $35 million on reaching certain sales targets.

Margenza was approved by the U.S. Food and Drug Administration or FDA in December 2020 in combination with chemotherapy for the treatment of adults with metastatic HER2-positive breast cancer.

"This transaction will enable us to focus our efforts on advancing our pipeline of novel and differentiated oncology product candidates," said Scott Koenig, President and Chief Executive Officer of MacroGenics.