MacroGenics sells TZIELD royalty to DRI for up to $200M; $100M upfront

MACROGENICS INC

Upfront payment of $100M for single-digit royalty on global net sales of TZIELD.
MacroGenics retains a 50% share of royalty above an annual threshold.
Eligible for up to $50M milestone tied to TZIELD advancement in newly diagnosed type 1 diabetes.
Potential additional $50M if TZIELD achieves a specified net sales level.
Closing expected March 15, 2023; MacroGenics keeps other regulatory and commercial milestones.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MACROGENICS INC entered into Purchase and Sale Agreement with DRI Healthcare Acquisitions LP valued at $100 million (effective 2023-03-08).

Action: entry
Agreement: asset purchase
Counterparty: DRI Healthcare Acquisitions LP
Value: $100 million
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023 (the “Execution Date”), MacroGenics, Inc. (the “Company”) entered into a Purchase and Sale Agreement (the “Royalty Purchase Agreement”) with DRI Healthcare Acquisitions LP (“DRI”), a wholly owned subsidiary of DRI Healthcare Trust, for the sale to DRI of the Company’s single-digit royalty interest on global net sales of TZIELD (teplizumab-mzwv) (the “DRI Transaction”)

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Source: SEC EDGAR

accession 0001125345-23-000045

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