Eli Lilly signs potential $600 million agreement with MacroGenics
INDIANAPOLIS MacroGenics has the potential to earn more than $600 million with a recent agreement the biotech company made with Eli Lilly. Eli Lilly will pay the company up to $494 million to develop and commercialize teplizumab, a humanized anti CD-3 monoclonal antibody now in Phase II/III clinical trial for patients with recent-onset Type 1 diabetes.
The deal includes other potential next generation anti-CD3 molecules for the use in the treatment of autoimmune diseases. Eli Lilly acquires the exclusive rights for the drug, while MacroGenics continues to oversee the diabetes trial.
Under the terms of the agreement, MacroGenics will receive $44 million as an initial payment and may receive up to $200 million in potential development milestone for the Type 1 diabetes indication of the drug. If the drug is commercialized, the company is eligible for an additional $250 million in potential sales milestones plus escalating royalties on sales. MacroGenics will also have the option to co-promote the drug for certain indications in the U.S.