MacroGenics Sells ZYNYZ Royalties for $70M to Sagard
Slice of Healthcare Team
06/12/2025
Key highlights
- MacroGenics sells ZYNYZ royalty rights to Sagard for $70M upfront
- MacroGenics retains milestone and manufacturing interests
- Cash runway now extended through H1 2027
- ZYNYZ indicated for SCAC and MCC in the U.S.
- Deal filed in MacroGenics’ SEC Form 8-K
No quotes were given.
Why This Matters
This royalty purchase agreement significantly enhances MacroGenics’ financial flexibility. The $70 million upfront payment, coupled with its existing cash reserves and anticipated partner payments, positions the company to sustain operations and advance its clinical pipeline through the first half of 2027.
Strategically, the deal allows MacroGenics to retain valuable economic interests in ZYNYZ, such as milestone payments and a role in global manufacturing, while monetizing near-term royalty streams. For Sagard, the agreement provides exposure to the commercial success of ZYNYZ, an FDA-approved PD-1 inhibitor for difficult-to-treat cancers like SCAC and MCC.
In the broader biotech landscape, this reflects an ongoing trend of leveraging royalty financing to balance immediate funding needs with long-term value retention—a tactic increasingly used by clinical-stage companies navigating the capital-intensive path to commercialization.
