MacroGenics, Inc. (MGNX) has entered into a definitive agreement to sell its GMP drug substance manufacturing operations to Bora Pharmaceuticals Co., Ltd (6472.TW), with Bora paying $122.5 million upfront upon closing.
The deal includes the transfer of MacroGenics' Rockville, Maryland headquarters site, and FDA-approved facility with 11,000 liters of capacity, its Frederick, Maryland warehouse, and approximately 140 employees who are expected to join Bora.
Bora will assume responsibility for clinical and commercial manufacturing operations, while MacroGenics will retain a supply arrangement to support its pipeline needs.
MacroGenics CEO Eric Risser said the transaction aligns with the company's strategy to focus on advancing its antibody-based cancer pipeline while securing non-dilutive capital to accelerate development milestones in 2026 and beyond.
Bora Chairman Bobby Sheng highlighted the acquisition as a key step in expanding Bora's North American biologics operations under Bora Biologics, complementing its existing drug product site in Baltimore.
The transaction, advised by Moelis & Company for MacroGenics and Jones Day for Bora, is expected to close in the third quarter of 2026, subject to customary conditions.
MGNX has traded between $1.18 and $3.88 over the past year. The stock closed Monday's trading at $2.95, down 1.67%. During overnight trading, the stock is at $3.40, up 15.25%.
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