MacroGenics boosted by broad DART antibody deal with Boehringer
This article was originally published in Scrip
In some timely good news for MacroGenics, it has entered a global alliance with Boehringer Ingelheim to discover, develop and commercialise antibody-based therapeutics based on its DART (Dual-Affinity Re-Targeting) platform.
MacroGenics' lead programme teplizumab, an anti-CD3 antibody partnered with Lilly for autoimmune indications, hit a major setback last week when Lilly announced that a pivotal Phase III trial in type 1 diabetes failed to meet its primary endpoint. The trial, along with two others of teplizumab in type 1 diabetes, has been suspended and the companies are currently considering their options for teplizumab in type 1 diabetes and other potential indications.
DART
MacroGenics' DART platform is a bispecific antibody technology that enables the generation of highly stable antibody-like molecules that can simultaneously target two different antigens. DART therapeutics can accommodate virtually any variable region sequence in what MacroGenics refers to as a "plug-and-play" fashion with predictable expression, folding and antigen recognition. A key feature, according to MacroGenics, is a proprietary covalent linkage which results in the enhanced stability.
"This alliance represents the largest external commitment to our DART platform to date," said Dr Scott Koenig, MacroGenics' CEO.
The collaboration will be directed against up to ten combinations of molecular targets and may span multiple therapeutic areas, including immunology, oncology, respiratory, cardiometabolic and infectious diseases, said the companies.
Both companies will share responsibility for discovery and certain preclinical activities. Boehringer will then have sole responsibility for all subsequent preclinical, clinical, regulatory, commercial and manufacturing activities for any resulting DART-based products.
During the first three years of the collaboration, MacroGenics could receive payments of about $60 million, which includes an upfront cash payment, annual maintenance fees, R&D funding, and near-term research-based milestones.
Boehringer also expects to make a future equity investment in MacroGenics.
In addition, MacroGenics may be eligible to receive development, regulatory and commercial milestone payments that could reach up to $210 million for each of the ten DART programmes, plus royalties on sales.
MacroGenics has the option to co-promote certain DART products in the US.
DART proteins are available in both bacterial and mammalian expression systems, and have also been engineered with an Fc domain, which confers them with additional properties, such as Fc receptor binding and extended half-life, said MacroGenics.
MacroGenics, which is privately held, has raised $131 million of equity financing since its inception in 2000. Its last fundraising was a $25 million series D in 2008, the same year it acquired Raven Biotechnologies. Its investors include TPG Ventures, Alta Partners, InterWest and MPM Capital, among others.
Aside from teplizumab, MacroGenics has one other clinical-stage programme: a next-generation, Fc-optimised monoclonal antibody targeting HER2. The company initiated a Phase I trial in patients with HER2 positive solid tumours in August this year.