MacroGenics announces sale of TZIELD royalty interest for up to $200M

MacroGenics announced that it has entered into an agreement to sell its royalty interest on future global net sales of TZIELD to a wholly-owned subsidiary of DRI Healthcare Trust for up to $200M. MacroGenics retains its other economic interests related to TZIELD, including future potential regulatory and commercial milestones. Under the terms of the agreement with DRI, MacroGenics will receive a $100M upfront payment for the sale of its single-digit royalty on global net sales of TZIELD. MacroGenics will have the right to receive a 50% share of the royalty on global net sales above a certain annual threshold. In addition, the company is eligible to receive up to $50M from DRI upon the occurrence of pre-specified events tied to the advancement of TZIELD for the treatment of newly diagnosed type 1 diabetes. The company may also receive an additional $50M if TZIELD achieves a certain level of net sales.