MacroGenics, Inc. (NASDAQ: MGNX) announced that Gilead Sciences, Inc. has exercised its option to obtain an exclusive license for a preclinical bispecific program under a 2022 collaboration agreement between the two companies, triggering a $10 million payment to MacroGenics.

The licensed program uses MacroGenics' TRIDENT® platform and targets two undisclosed proteins for the treatment of solid tumors.

Under the 2022 agreement, the companies are advancing three programs in total: MGD024, a clinical-stage CD123 × CD3 bispecific DART® molecule, and two preclinical bispecific programs, one of which is the subject of this option exercise.

MacroGenics said it remains eligible to receive up to approximately $1.6 billion in additional development, regulatory, and commercial milestone payments across the collaboration, as well as royalties on worldwide net sales of any resulting products.