By Michael Dabaie

MacroGenics Inc. said Friday it is in a research collaboration and global license agreement with Janssen Biotech Inc.

MacroGenics, a cancer-focused biopharmaceutical company, said the deal is to develop a preclinical molecule with Janssen. The research collaboration will incorporate MacroGenics' DART platform to enable simultaneous targeting of two undisclosed targets in a therapeutic area outside oncology.

Janssen will pay MacroGenics $20 million upfront and will be responsible for funding all expenses. MacroGenics can also receive up to $312 million in potential milestone payments and tiered royalties on worldwide product sales.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

December 18, 2020 08:04 ET (13:04 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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