Servier invests in oncology
25.09.2012 - French pharma company Les Laboratoires Servier beefs up its oncology pipeline with a deal worth up to US$1.2bn.
In its second deal with US-based Macrogenics, the major French pharma company has entered into an option agreement to develop and commercialise three Macrogenics products. Under the terms of the agreement, Macrogenics receives US$20m upfront, as well as US$1.1bn in milestone payments and double digit royalties. It will use its Dual-Affinity Re-Targeting (DART) platform to develop up to three proteins that target un-diagnosed solid and liquid tumours. It retains full development and commercialisation rights to the programmes in the US, Canada, Mexico, Japan, Korea and India, while Servier has the option to obtain an exclusive license covering the rest of the world for each of the programmes.
„We believe bi-specific antibodies are an important new frontier in medicine. Macrogenics is well positioned to be a leader in this exciting area, given the robustness and versatility of their DART platform”, said Stéphane Depil, in charge of Oncology Research & Development at Servier. His company partnered with Macrogenics for the first time in late 2011 on MGA271, a monoclonal antibody that recognises B7-H3, a novel member of the B7 family of immune regulators. With Pfizer and Boehringer Ingelheim, two other major pharma companies are already using the DART platform since at least October 2010.
These deals mark a remarkable comeback for Macrogenics: only two years ago the company spiked ist lead product, type 1 diabetes drug teplizumab, partnered to Eli Lilly & Co., after disappointing Phase III study results.