MacroGenics Pronounces Management Transition – Macrogenics (NASDAQ:MGNX)

• Scott Koenig, M.D., Ph.D., to step down as President and CEO
• Board to provoke search course of to determine new CEO

ROCKVILLE, MD, Oct. 30, 2024 (GLOBE NEWSWIRE) —  MacroGenics, Inc. MGNX, a biopharmaceutical firm centered on discovering, creating, manufacturing and commercializing revolutionary antibody-based therapeutics for the remedy of most cancers, right this moment introduced that Scott Koenig, M.D., Ph.D., intends to step down as President and Chief Govt Officer early subsequent 12 months. The Firm’s Board of Administrators has retained Heidrick & Struggles to guide a search course of to determine its subsequent Chief Govt Officer and has established a particular committee of the Board to supervise the transition course of.

William Heiden, Chairman of the Board of Administrators stated, “Scott was a co-founder of MacroGenics twenty-four years in the past and the Firm has achieved many milestones beneath his management – together with a number of partnered or company-owned FDA authorised monoclonal antibody therapeutics developed by the corporate.  On behalf of the Board, I wish to thank Scott for his unimaginable dedication to the Firm’s mission of discovering and creating novel therapeutics to enhance affected person care.”

Mr. Heiden continued, “Immediately, MacroGenics has a number of revolutionary antibody-based therapeutics in improvement for the remedy of most cancers, in addition to important alliances with main pharmaceutical and biotechnology corporations to develop and commercialize novel therapeutics.  The Firm right this moment has a broad portfolio of promising belongings and a robust steadiness sheet, and the Board and Scott agreed that that is the precise time to transition to our subsequent section of management. We sit up for persevering with to profit from his views as an advisor and shareholder.”

“I’m happy with our many achievements since our founding in 2000, wherein we constructed a completely built-in, science-focused biotechnology firm and have been profitable in discovering, creating, manufacturing, and commercializing novel immunotherapeutics derived from our proprietary Fc-engineered antibody, bi-specific DART molecule, and antibody drug conjugate (ADC) applied sciences,” stated Dr. Koenig. “For the reason that firm’s IPO in 2013, we had been in a position to fund a big a part of the event portfolio via the achievement of over $1 billion of non-dilutive capital by way of partnerships. Because of the unimaginable ardour and dedication of the individuals at MacroGenics, three novel therapeutics from our pipeline superior to approval, together with MARGENZA® and ZYNYZ® to deal with sufferers with most cancers, and TZIELD® for people with early-stage Sort 1 diabetes, and we’ve got superior a wealthy portfolio of medical and preclinical molecules in improvement.  I’m assured that MacroGenics is effectively positioned in its present mission to handle the numerous unmet medical wants of sufferers with most cancers.   I sit up for persevering with to assist the Firm in its work to attain its key strategic goals and create worth for all our stakeholders.”

About MacroGenics, Inc.

MacroGenics is a biopharmaceutical firm centered on discovering, creating, manufacturing and commercializing revolutionary monoclonal antibody-based therapeutics for the remedy of most cancers. The Firm generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based know-how platforms, which have applicability throughout broad therapeutic domains. The mix of MacroGenics’ know-how platforms and protein engineering experience has allowed the Firm to generate promising product candidates and enter into a number of strategic collaborations with world pharmaceutical and biotechnology corporations. For extra data, please see the Firm’s web site at www.macrogenics.com. MacroGenics, the MacroGenics emblem and MARGENZA are emblems or registered emblems of MacroGenics, Inc. 

Cautionary Be aware on Ahead-Wanting Statements

Any statements on this press launch about future expectations, plans and prospects for MacroGenics (“Firm”), together with statements concerning the Firm’s technique, future operations, medical improvement of and regulatory plans for the Firm’s therapeutic candidates, anticipated timing of the discharge of ultimate security and efficacy information, together with mature median rPFS and different statements containing the phrases “topic to”, “consider”, “anticipate”, “plan”, “anticipate”, “intend”, “estimate”, “potential,” “undertaking”, “might”, “will”, “ought to”, “would”, “may”, “can”, the negatives thereof, variations thereon and comparable expressions, or by discussions of technique represent forward-looking statements inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934. Precise outcomes might differ materially from these indicated by such forward-looking statements because of numerous essential elements, together with: dangers that TZIELD, vobramitamab duocarmazine, lorigerlimab, ZYNYZ, MARGENZA or another product candidate’s income, bills and prices will not be as anticipated, dangers regarding TZIELD, vobramitamab duocarmazine, lorigerlimab, ZYNYZ, MARGENZA or another product candidate’s market acceptance, competitors, reimbursement and regulatory actions; future information updates, particularly timing and outcomes of mature median radiographic progression-free survival, different efficacy and security information with respect to vobramitamab duocarmazine; our capability to supply manufacturing providers to our clients; the uncertainties inherent within the initiation and enrollment of future medical trials; the provision of financing to fund the interior improvement of our product candidates; expectations of increasing ongoing medical trials; availability and timing of information from ongoing medical trials; expectations for the timing and steps required within the regulatory evaluation course of; expectations for regulatory approvals; expectations of future milestone funds; the affect of aggressive merchandise; our capability to enter into agreements with strategic companions and different issues that might have an effect on the provision or business potential of the Firm’s product candidates; enterprise, financial or political disruptions because of catastrophes or different occasions, together with pure disasters, terrorist assaults, civil unrest and precise or threatened armed battle, or public well being crises; prices of litigation and the failure to efficiently defend lawsuits and different claims in opposition to us; and different dangers described within the Firm’s filings with the Securities and Alternate Fee. As well as, the forward-looking statements included on this press launch symbolize the Firm’s views solely as of the date hereof. The Firm anticipates that subsequent occasions and developments will trigger the Firm’s views to alter. Nonetheless, whereas the Firm might elect to replace these forward-looking statements in some unspecified time in the future sooner or later, the Firm particularly disclaims any obligation to take action, besides as could also be required by regulation. These forward-looking statements shouldn’t be relied upon as representing the Firm’s views as of any date subsequent to the date hereof.

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CONTACTS:
Jim Karrels, Senior Vice President, CFO
1-301-251-5172
[email protected]