Core Viewpoint - MacroGenics has entered into a royalty purchase agreement with Sagard, receiving a $70 million upfront payment for a capped royalty interest on future global net sales of its PD-1 inhibitor, ZYNYZ [1][2]. Group 1: Royalty Purchase Agreement - The agreement allows MacroGenics to receive an upfront payment of $70 million for its royalty rights on global net sales of ZYNYZ [2]. - After Sagard receives a total of $140 million in royalty payments (2.0x), MacroGenics will regain the right to collect all future royalties on global net sales [2]. Group 2: Financial Position - As of March 31, 2025, MacroGenics had $154.1 million in cash, cash equivalents, and marketable securities, which, along with the $70 million upfront payment and anticipated future payments, is expected to support its cash runway through the first half of 2027 [3]. Group 3: Product Information - ZYNYZ (retifanlimab-dlwr) is a humanized monoclonal antibody targeting PD-1, indicated for the first-line treatment of adult patients with inoperable locally recurrent or metastatic squamous cell carcinoma of the anal canal (SCAC) [4]. - ZYNYZ is also indicated for the treatment of adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC) in the U.S., approved under accelerated approval based on tumor response rate [5]. Group 4: Company Overview - MacroGenics is a biopharmaceutical company focused on discovering, developing, manufacturing, and commercializing innovative monoclonal antibody-based therapeutics for cancer treatment [6]. - The company generates its pipeline from proprietary next-generation antibody-based technology platforms and has entered into several strategic collaborations with global pharmaceutical and biotechnology companies [6]. Group 5: About Sagard - Sagard is a multi-strategy alternative asset management firm with over $25 billion under management, investing in various sectors including venture capital and private equity [7].