Servier and MacroGenics to develop anti-cancer agent

Servier is allying with MacroGenics on the development of an innovative and potentially effective new treatment for cancer.

The newly agreed deal will provide Servier with an option to obtain an exclusive international licence for MGA271, MacroGenics' proprietary product candidate that is currently being assessed in a phase I trial for the treatment of solid tumours.

A first-in-class, Fc-optimised monoclonal antibody that targets B7-H3, the compound has demonstrated the potential to treat multiple cancer types during preclinical studies and could help to address unmet healthcare needs.

MacroGenics will receive an upfront payment of $20 million (15.46 million pounds) under this new deal, with the option exercise fee valued at $60 million and potential clinical, regulatory and commercialisation milestone payments estimated at $390 million.

Dr Emmanuel Canet, president for research and development at Servier, said: "We have been deeply impressed by both the excellence of science being conducted by MacroGenics and their world-class antibody development capabilities."

This comes after Servier allied with Miragen Therapeutics in October 2011 to study new microRNA drugs for cardiovascular conditions.