DealsMay 4, 2026, 04:08 PM
MacroGenics Expands ZYNYZ Royalty Deal, Gets $60M Cash + $20M Milestone
AI Summary
MacroGenics, Inc. announced an amendment to its royalty purchase agreement with Sagard Healthcare Partners for ZYNYZ (retifanlimab-dlwr). Under the revised terms, MacroGenics received an additional $60.0 million cash payment, bringing the total aggregate purchase price to $130.0 million. The company is also eligible for a potential one-time milestone payment of up to $20.0 million based on ZYNYZ's 2026 net sales. The agreement revises the capped royalty interest, with all royalty rights reverting to MacroGenics once Sagard receives 1.70x of the aggregate purchase price by September 30, 2032, or 2.0x at any time thereafter.
Key Highlights
- MacroGenics received an additional cash payment of $60.0 million from Sagard Healthcare Partners.
- The aggregate purchase price under the Royalty Purchase Agreement now totals $130.0 million.
- MacroGenics is eligible for an additional one-time milestone payment of up to $20.0 million, contingent on ZYNYZ 2026 net sales.
- Sagard's capped royalty interest will revert to MacroGenics once Sagard receives 1.70x of the Aggregate Purchase Price by September 30, 2032, or 2.0x thereafter.
- The initial ZYNYZ royalty purchase agreement was established on June 9, 2025.
Price Impact
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