Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Gilead, MacroGenics Ink Antibody Licensing Deal

Privately-held biotech firm MacroGenics has signed an agreement with Gilead Sciences (NASDAQ: GILD  ) to develop and produce Dual-Affinity Re-Targeting (DART) next-generation  antibody therapeutics, according to a press release on MacroGenics's site.

MacroGenics's deal with Gilead could be worth  up to more than $1.1 billion in payouts for the company if the DART program hits on all four of its milestones. MacroGenics may also receive royalties on any future sales that the program produces.

Gilead's Senior Vice President of Oncology and Inflammation Therapeutics, Dr. Roy D. Baynes,  explained Gilead's aim in the deal, saying:

This partnership underscores Gilead's commitment to developing innovative therapies that address significant unmet medical needs for patients with cancer and other life-threatening diseases.

Shares of Gilead rose more than 1.5% on Monday.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2183351, ~/Articles/ArticleHandler.aspx, 3/2/2015 11:50:58 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...