MacroGenics Sells Manufacturing Operations to Bora for $122.5 Million
MGNX•MacroGenics sold its GMP drug substance manufacturing operations to Bora Pharmaceuticals for $122.5 million, transferring its Rockville manufacturing site and Frederick warehouse. Bora has hired about 140 former MacroGenics employees and will support process development and drug substance production under a new supply agreement.
1. Transaction Details
MacroGenics completed the sale of its GMP drug substance manufacturing operations for $122.5 million before transaction fees and assumed the Rockville site and Frederick warehouse under the asset purchase agreement.
2. Employee Transition
Bora Pharmaceuticals hired approximately 140 former MacroGenics employees and integrated them into its CDMO operations to maintain manufacturing expertise and continuity at the Rockville facility.
3. Supply Agreement
Under a new supply agreement, Bora will support MacroGenics’ process development and provide drug substance production services for the company’s internal pipeline and ongoing clinical production needs.
