Parking the PR for the GENZ/Macrogenics deal last year -
October 29, 2003
CAMBRIDGE, Mass. and Rockville, Md. – Genzyme Corp. (Nasdaq: GENZ) and MacroGenics, Inc. announced today that they have entered into a strategic partnership to develop novel therapies for immune-mediated diseases.
Under the agreement, the companies will work together to advance MacroGenics’ ongoing preclinical program targeting the Fc receptor CD16, an important molecule in the development of several immune-mediated diseases. Genzyme and MacroGenics intend to utilize both humanized monoclonal antibodies and soluble receptors aimed at this important target, which is believed to contribute to numerous immune-mediated diseases such as idiopathic thrombocytopenic purpura (ITP), lupus, rheumatoid arthritis, autoimmune hemolytic anemia, and others.
Genzyme will make a $5 million equity investment in MacroGenics, a privately held biotechnology company, and the two companies will jointly fund the development program and split profits that may arise from it. The companies will collaborate in the development effort, although Genzyme will have sole responsibility for manufacturing and commercializing products that arise from the collaboration. MacroGenics will have certain co-promotion rights in the United States. Further financial terms were not disclosed.
“ We look forward to working with MacroGenics, which will provide an important new addition to our growing portfolio of work in immune-mediated diseases,” said Georges Gemayel, executive vice president, Genzyme Corp. “MacroGenics’ promising pre-clinical work to date, and its strong scientific expertise, make it a desirable partner in an area where we see vast clinical and commercial potential.”
” This collaboration with Genzyme provides the resources and commitment of an experienced company to accelerate our product development,“ remarked Dr. Scott Koenig, president and CEO at MacroGenics, Inc. “We have been impressed with Genzyme’s development and commercial capabilities and their willingness to work in partnership with our growing organization.”
Genzyme’s Immune-Mediated Diseases Portfolio
Genzyme recently supplemented its work related to immune-mediated diseases with the acquisition of SangStat Medical Corporation, which was completed last month. The acquisition brought Genzyme Thymoglobulin® (anti-thymocyte globulin), a leading product used to manage acute rejection in kidney transplant patients, which represents Genzyme’s first product in the immunology marketplace.
Genzyme’s broad development strategy related to immune-mediated diseases includes product candidates being developed internally, as well as in collaboration with partners. Leading candidates include CAT-192, a human monoclonal antibody to TGFbeta1 that is being investigated in a Phase 1/2 trial with partner Cambridge Antibody Technology (CAT) for the treatment of diffuse systemic sclerosis; GC 1008, a pan-specific human monoclonal antibody against TGFbeta1, 2 and 3, which is expected to enter clinical trials next year in idiopathic pulmonary fibrosis, also in partnership with CAT; and GENZ 29155, a small molecule for multiple sclerosis that is expected to enter clinical trials around the end of this year. In addition, Genzyme is continuing partnership discussions initiated by SangStat regarding the development of RDP58, an anti-inflammatory peptide that is being investigated across a range of immune-mediated diseases, including ulcerative colitis.
Genzyme also plans additional clinical trials to expand the label indications for Thymoglobulin, and the company has rights to an early stage research program focused on developing human polyclonal antibodies through a collaboration with Therapeutic Human Polyclonals Inc.
About MacroGenics
MacroGenics, Inc. is focused on the development of improved immunotherapeutic products, including monoclonal antibodies and vaccines and has identified new targets for the treatment of cancer and inflammatory disorders and the prevention of infectious diseases. In addition to creating specific molecules targeting Fc receptors, the company has applied its Fc technology to developing therapeutic antibodies with enhanced activity. To date, the company has raised $31.2M and has been awarded NIH sponsored grants that could fund more than $6M of research. Additional information concerning the company, its technology and investors can be found on its Web site (www.macrogenics.com). |
