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Scott Koenig, M.D., Ph.D., to step down as President and CEOBoard to initiate search process to identify new CEO ROCKVILLE, MD, Oct. 30, 2024 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, today announced that Scott Koenig, M.D., Ph.D., intends to step down as President and Chief Executive Officer early next year. The Company’s Board of Directors has retained Heidrick & Struggles to lead a search process to identify its next Chief Executive Officer and has established a special committee of the Board to oversee the transition process. William Heiden, Chairman of the Board of Directors said, “Scott was a co-founder of MacroGenics twenty-four years ago and the Company has achieved many milestones under his leadership – including several partnered or company-owned FDA approved monoclonal antibody therapeutics developed by the company. On behalf of the Board, I want to thank Scott for his incredible dedication to the Company’s mission of discovering and developing novel therapeutics to improve patient care.” Mr. Heiden continued, “Today, MacroGenics has several innovative antibody-based therapeutics in development for the treatment of cancer, as well as significant alliances with leading pharmaceutical and biotechnology companies to develop and commercialize novel therapeutics. The Company today has a broad portfolio of promising assets and a strong balance sheet, and the Board and Scott agreed that this is the right time to transition to our next phase of leadership. We look forward to continuing to benefit from his perspectives as an advisor and shareholder.” “I am proud of our many achievements since our founding in 2000, in which we built a fully integrated, science-focused biotechnology company and have been successful in discovering, developing, manufacturing, and commercializing novel immunotherapeutics derived from our proprietary Fc-engineered antibody, bi-specific DART molecule, and antibody drug conjugate (ADC) technologies,” said Dr. Koenig. “Since the company’s IPO in 2013, we were able to fund a significant part of the development portfolio through the achievement of over $1 billion of non-dilutive capital via partnerships. Thanks to the incredible passion and dedication of the people at MacroGenics, three novel therapeutics from our pipeline advanced to approval, including MARGENZA® and ZYNYZ® to treat patients with cancer, and TZIELD® for individuals with early-stage Type 1 diabetes, and we have advanced a rich portfolio of clinical and preclinical molecules in development. I am confident that MacroGenics is well positioned in its current mission to address the significant unmet medical needs of patients with cancer. I look forward to continuing to support the Company in its work to achieve its key strategic objectives and create value for all our stakeholders.” About MacroGenics, Inc. MacroGenics is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains. The combination of MacroGenics' technology platforms and protein engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. For more information, please see the Company's website at www.macrogenics.com. MacroGenics, the MacroGenics logo and MARGENZA are trademarks or registered trademarks of MacroGenics, Inc. Cautionary Note on Forward-Looking Statements Any statements in this press release about future expectations, plans and prospects for MacroGenics (“Company”), including statements about the Company’s strategy, future operations, clinical development of and regulatory plans for the Company’s therapeutic candidates, expected timing of the release of final safety and efficacy data, including mature median rPFS and other statements containing the words “subject to”, "believe", “anticipate”, “plan”, “expect”, “intend”, “estimate”, “potential,” “project”, “may”, “will”, “should”, “would”, “could”, “can”, the negatives thereof, variations thereon and similar expressions, or by discussions of strategy constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks that TZIELD, vobramitamab duocarmazine, lorigerlimab, ZYNYZ, MARGENZA or any other product candidate’s revenue, expenses and costs may not be as expected, risks relating to TZIELD, vobramitamab duocarmazine, lorigerlimab, ZYNYZ, MARGENZA or any other product candidate’s market acceptance, competition, reimbursement and regulatory actions; future data updates, especially timing and results of mature median radiographic progression-free survival, other efficacy and safety data with respect to vobramitamab duocarmazine; our ability to provide manufacturing services to our customers; the uncertainties inherent in the initiation and enrollment of future clinical trials; the availability of financing to fund the internal development of our product candidates; expectations of expanding ongoing clinical trials; availability and timing of data from ongoing clinical trials; expectations for the timing and steps required in the regulatory review process; expectations for regulatory approvals; expectations of future milestone payments; the impact of competitive products; our ability to enter into agreements with strategic partners and other matters that could affect the availability or commercial potential of the Company's product candidates; business, economic or political disruptions due to catastrophes or other events, including natural disasters, terrorist attacks, civil unrest and actual or threatened armed conflict, or public health crises; costs of litigation and the failure to successfully defend lawsuits and other claims against us; and other risks described in the Company's filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views only as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as may be required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof. ###

Today, a brief rundown of news from Merck & Co. and Roche, as well as updates from Sangamo Therapeutics, UCB and Catalent that you may have missed.Merck & Co. will pay $30 million upfront to acquire Modifi Biosciences, a Yale University spinout developing small molecule drugs for cancer. Founded in 2021, Modifi focuses on DNA repair defects in cancer cells, specifically one repair protein known as MGMT for short. Shareholders in Modifi could receive up to $1.3 billion in additional payments if certain, unspecified milestones are met. Ned PagliaruloSales of Sarepta Therapeutics Duchenne muscular dystrophy gene therapy Elevidysoutside of the U.S. reached 137 million Swiss francs, or about $156 million, over the first nine months of the year, the companys international partner Roche said Wednesday. Those sales came from five ex-U.S. countries where Elevidys is also approved. A decision is expected in the EU next year, and Roche has submitted applications in several other countries. The Swiss group cited Elevidys, along with multiple sclerosis shot Ocrevus, as one of its key growth drivers in neurology, which showed a sales increase of 14% to 7 billion francs over the same period in 2023. Jonathan GardnerShares in Sangamo Therapeutics rose Tuesday after the company said it has secured agreement from the Food and Drug Administration on a path to filing its experimental Fabry disease treatment for approval. According to the biotechnology company, regulators agreed that a measure of kidney function could be used as a surrogate endpoint to ask it for accelerated clearance of the gene therapy, dubbed isaralgagene civaparvovec or ST-920. Sangamo expects to have the necessary data by the first half of next year, setting up a submission in the latter half of 2025 some three years earlier than the company had been planning. Ned PagliaruloRoche has returned to UCB rights to an experimental Alzheimers medicine UCB had licensed to the Swiss pharmaceutical company in 2020. The company confirmed Roches termination of the collaboration in a statement Tuesday announcing the planned presentation of Phase 2 study results for the drug, bepranemab, at an upcoming medical meeting. Tested in people with prodromal or mild Alzheimers, bepranemab is designed to target a protein known as tau in the brain. Ned PagliaruloMacroGenics, a developer of antibody medicines for cancer, on Tuesday said it sold rights to its breast cancer drug Margenza to privately held TerSera Therapeutics for $40 million. MacroGenics could receive up to $35 million more if certain sales milestones are met under the deal, which is expected to close in the fourth quarter. Margenza was approved in 2020 together with chemotherapy for adults with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens. Delilah AlvaradoCell therapy developer AvenCell Therapeutics raised $112 million in a Series B financing led by investor Novo Holdings. The funding will fund development of the companys switchable CAR-T medicines, which it claims could be safer and more effective than current options. F-Prime Capital, founding investor Blackstone Life Sciences and three other venture firms participated in the round. Delilah AlvaradoCatalent, the contract development and manufacturing organization being acquired by Novo Holdings, issued a letter Monday to its customers aimed at reassuring them it will continue to fulfill its commitments after the transaction closes. Novo Holdings, which is the parent company of drugmaker Novo Nordisk, is taking Catalent private through a $16.5 billion acquisition. Novo Nordisk is then buying three large Catalent plants in a separate $11 billion agreement. Alessandro Maselli, Catalents current CEO, will stay on in his role, the letter said. Ned Pagliarulo '