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MacroGenics Partners With J&J; Stock Jumps

2014-12-22 19:15:14| Food - Topix.net

's unit Janssen Biotech agreed to pay $50 million upfront for rights to MacroGenics' MGD011, an antibody that targets two biomarkers associated with malignancies of the B-cell, a type of white blood cell. Janssen also promised up to $575 million in milestone payments if MGD011, which is in preclinical development, passes through its clinical trials and hits certain sales targets.

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