MacroGenics (MGNX) Receives $24.5M Milestone from Sanofi (SNY) for TZIELD Approval

MacroGenics Inc. (MGNX) will receive a $24.5 million milestone payment from Sanofi S.A. (SNY) following the recent regulatory approval of TZIELD (teplizumab-mzwv). This payment is triggered by the drug's clearance for delaying the onset of Stage 3 Type 1 diabetes. Sanofi acquired the global rights to TZIELD from MacroGenics in June 2020. Under the licensing agreement, MacroGenics remains eligible for further development and regulatory milestone payments, in addition to tiered royalties on the product's future net sales. This payment marks a significant progression in the drug's commercialization.