MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, as well as autoimmune disorders and infectious diseases, today announced the initiation of a Phase 1 study with MGD010, its first Dual-Affinity Re-Targeting (DART®) molecule being developed for patients with autoimmune disorders. MGD010 is a bi-specific molecule that simultaneously targets CD32B and CD79B, two B-cell surface proteins, for the treatment of autoimmune disorders. MGD010 is designed to inhibit B-cell activation by exploiting the inhibitory function of CD32B, a checkpoint molecule expressed by B cells. As a result of the study initiation, MacroGenics will receive a $3 million milestone payment from its partner, Takeda Pharmaceutical Company Limited.