MacroGenics, Inc. (NASDAQ:MGNX), a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer, today announced that Gilead Sciences, Inc. has exercised its option to obtain an exclusive license for a preclinical bispecific program under the companies’ 2022 collaboration agreement. The option exercise triggers a $10 million payment to MacroGenics.

The licensed program incorporates MacroGenics’ TRIDENT® platform and is directed against two undisclosed targets for the treatment of solid tumors. Under the 2022 collaboration agreement, MacroGenics and Gilead Sciences are advancing three programs: MGD024, a clinical-stage CD123 × CD3 bispecific DART® molecule, and two preclinical bispecific programs.

MacroGenics remains eligible to receive up to approximately $1.6 billion in additional development, regulatory and commercial milestone payments across the collaboration, as well as royalties on worldwide net sales of products resulting from the programs.