MacroGenics amends TZIELD royalty deal; retains $50M sales milestone and 50% royalty share

MACROGENICS INC

Terminated Royalty Purchase Agreement with DRI; Aventis (Sanofi sub) now receives royalty directly from Provention Bio.
Asset Purchase Agreement amended to include $50M milestone payment from Sanofi if TZIELD net sales hit certain level.
MacroGenics retains 50% royalty on global TZIELD sales above an annual threshold.
Sanofi guarantees the $50M sales milestone obligation to MacroGenics.
All prior obligations under the Royalty Purchase Agreement eliminated as of September 19, 2023.

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 amended Asset Purchase Agreement with Provention Bio, Inc. valued at Amendment to incorporate Sales Milestone Payment obligation and guaranty by Sanofi, and eliminate Pr (effective 2023-09-19).

Action: amendment
Agreement: asset purchase
Counterparty: Provention Bio, Inc.
Value: Amendment to incorporate Sales Milestone Payment obligation and guaranty by Sanofi, and eliminate Pr
Effective: 2023-09-19

Exact text from the filing

On September 19, 2023, the Company and Provention Bio entered into an amendment of the Asset Purchase Agreement (the “Asset Purchase Agreement Amendment”) to incorporate the Sales Milestone Payment obligation from the Royalty Purchase Agreement, along with a guaranty of such obligation by Sanofi and to eliminate any obligation for Provention Bio to pay the Royalty Interest to the Company.

View on SEC.gov

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

MACROGENICS INC terminated Royalty Purchase Agreement with DRI Healthcare Acquisitions LP valued at Mutual Termination Agreement terminated the Royalty Purchase Agreement (effective 2023-09-19).

Action: termination
Counterparty: DRI Healthcare Acquisitions LP
Value: Mutual Termination Agreement terminated the Royalty Purchase Agreement
Effective: 2023-09-19

Exact text from the filing

On September 19, 2023, the Company and Aventis concurrently entered into a Mutual Termination Agreement terminating the Royalty Purchase Agreement.

View on SEC.gov

301 material agreements filed in the last 30 days. Browse all material agreements →

MACROGENICS INC filing history →

Source: SEC EDGAR

accession 0001125345-23-000113

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.