MacroGenics closes sale of GMP manufacturing operations to Bora Pharmaceuticals

MacroGenics, Inc. and Bora Pharmaceuticals Co., Ltd. announced on July 2, 2026 that they had completed the sale of MacroGenics' good manufacturing practice drug substance manufacturing operations to Bora.¹

Under the deal terms, Bora paid MacroGenics $122.5 million, before transaction fees and expenses and subject to customary post-closing adjustments.¹ As of the closing date, Bora took on responsibility for MacroGenics' manufacturing operations that support clinical and commercial production.¹

The transaction moved physical assets and staff to Bora: the company's Rockville, Maryland manufacturing site and its Frederick, Maryland warehouse became part of Bora's operations, and roughly 140 people who previously worked for MacroGenics joined Bora's payroll as part of the deal. Separately, MacroGenics and Bora set up an arrangement so that Bora will continue to handle process development and drug substance manufacturing to meet MacroGenics' own pipeline needs going forward.

According to the underlying 8-K filing, the sale was effective as of June 30, 2026, and covered assets and liabilities tied to the CDMO business at the Rockville facility and the Frederick warehouse, excluding MacroGenics' research assets and operations. The deal followed an Asset Purchase Agreement dated May 11, 2026, under which Bora paid $122.5 million and assumed responsibility for the CDMO Operations.¹

On the advisory side, Moelis & Company LLC acted as MacroGenics' financial advisor for the transaction, while Sidley Austin LLP and Covington & Burling provided legal counsel to the company; Jones Day represented Bora as legal counsel.

Along with the press release, MacroGenics filed unaudited pro forma financial statements reflecting the divestiture, covering a consolidated balance sheet as of March 31, 2026, and statements of operations for the year ended December 31, 2025 and the three months ended March 31, 2026.¹