Item 1.01 Entry into a Material Definitive Agreement
On October 13, 2020, MacroGenics, Inc. (the "Company") entered into a Commercial
Supply Agreement (the "Commercial Supply Agreement") with Incyte Corporation
("Incyte"). The Company and Incyte are parties to that certain Global
Collaboration and License Agreement, dated October 24, 2017, in which the
Company granted to Incyte an exclusive license to develop, manufacture and
commercialize retifanlimab (the "Collaboration and License Agreement"). The
Commercial Supply Agreement was entered into as contemplated by the
Collaboration and License Agreement, pursuant to which the Company is entitled
to manufacture a portion of the global commercial supply needs for retifanlimab
(formerly designated as MGA012 by the Company). The Company plans to manufacture
commercial retifanlimab at its 5 x 2,000L scale GMP facility in Rockville, MD.
Unless terminated earlier, the term of the Commercial Supply Agreement will
expire upon the expiration of Incyte's obligation to pay royalties under the
Collaboration and License Agreement. The Commercial Supply Agreement also
includes customary provisions relating to, among others, production forecasting,
delivery, inspection procedures, warranties, confidentiality and
indemnification. The foregoing description of the Commercial Supply Agreement
does not purport to be complete and is qualified in its entirety by reference to
the complete Commercial Supply Agreement, which will be filed in redacted form
as an exhibit to the Company's Annual Report on Form 10-K for the year ending
December 31, 2020.
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