MacroGenics Receives $70M from Sagard Healthcare Partners in Royalty Agreement for ZYNYZ
Extends Cash Runway Through 1H 2027
DENVER, Colo., Jun 10, 2025 (247marketnews.com)- MacroGenics (NASDAQ:MGNX) entered into a royalty purchase agreement with Sagard Healthcare Partners, in which MacroGenics received a $70 million upfront cash payment in exchange for a capped royalty interest in future global net sales of ZYNYZ (retifanlimab-dlwr).
ZYNYZ, a PD-1 inhibitor, was developed by MacroGenics and licensed to Incyte under an exclusive global agreement in 2017. The drug is approved in the U.S. for inoperable squamous cell carcinoma of the anal canal (SCAC) and Merkel cell carcinoma (MCC).
Key Terms:
- $70 million upfront payment to MacroGenics
- Sagard receives royalties until total payments reach $140 million (2x return)
- After the cap, 100% of future royalties revert to MacroGenics
- MacroGenics retains rights to milestone payments and continues manufacturing support
With this transaction, and as of March 31, 2025, MacroGenics’ total cash, cash equivalents, and marketable securities now exceed $224 million. Combined with expected partner payments and ongoing cost-saving measures, the company anticipates a cash runway extending through the first half of 2027.
About ZYNYZ (retifanlimab-dlwr)
- Approved Indications:
- First-line treatment of locally recurrent or metastatic SCAC in combination with chemotherapy
- Second-line monotherapy for SCAC post platinum-based chemo failure
- Accelerated approval for metastatic or recurrent MCC
- Mechanism: Humanized monoclonal antibody targeting PD-1 checkpoint receptor
- Ongoing Trials: Continued approvals may depend on confirmatory clinical data
More details on this transaction are available in the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission.
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