Incyte Corp INCY:NASDAQ

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MacroGenics Achieves $15 Million Milestone Payment Under Retifanlimab Collaboration With Incyte

11:24AM ET 9/21/2020 MT Newswires
MacroGenics (MGNX) said Monday it achieved a milestone payment of $15 million under its collaboration and license agreement with Incyte (INCY) for retifanlimab.

The milestone was due to the initiation of a phase 3 trial evaluating the efficacy and safety of the retifanlimab with platinum-based chemotherapy in patients with metastatic squamous and non-squamous non-small cell lung cancer.

Under the agreement, MacroGenics can receive up to $390 million and $330 million in potential remaining development and regulatory milestones and commercial milestones, respectively. The company can also receive royalties, tiered from 15% to 24%, on future global sales.

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