TG Therapeutics Reports Global Collaboration with Checkpoint Therapeutics for Development, Commercialization of Novel Immuno-Oncology Targeted Antibodies

TG Therapeutics, Inc.

, announced today an agreement with Checkpoint Therapeutics, Inc., a newly formed subsidiary of Coronado Biosciences, Inc.

to develop and commercialize Checkpoint's fully human anti-PD-L1 and anti-GITR antibody research programs in the field of hematological malignancies. Checkpoint will develop and commercialize these antibodies in solid tumors. The antibodies were generated in the laboratory of Dr. Wayne Marasco, MD, PhD, a Professor in the Department of Cancer Immunology and AIDs at Dana-Farber Cancer Institute (Dana-Farber). Both programs are currently in pre-clinical development and are anticipated to enter the clinic in 2016. Under the terms of the agreement, TG Therapeutics will make an up-front payment as well as make development and sales-based milestone payments and will pay a tiered single digit royalty on net sales. Mr. Michael S. Weiss, Executive Chairman, Interim CEO and President stated, "We are very excited to add Dr. Marasco's anti-PD-L1 and anti-GITR programs to our growing portfolio of agents targeting hematological malignancies. Dr. Marasco is a recognized world expert in human antibody engineering and one of the pioneers of immunotherapy and we look forward to his continued involvement and guidance as Chair of the Scientific Advisory Board of our new partner, Checkpoint Therapeutics, Inc." Mr. Weiss continued, "Checkpoint inhibitors and other immuno-oncology targeted agents have already demonstrated the ability to transform the way we treat cancer by unlocking the immune system, offering the promise of deep and durable remissions. While the recent introduction of novel targeted agents has already revolutionized the way we treat hematological malignancies, we at TG believe that incorporation of immuno-therapy will prove to be a second paradigm-shift in the treatment of these diseases, and it is our goal to be at the forefront leading this charge. As we've said previously, we will continue to build our portfolio to optimize our combination approach to provide the best possible outcomes to patients with B-cell malignancies without the need to use harsh chemotherapy, ideally pushing toward a cure. It is believed that these two antibodies can work synergistically together and we believe that adding them to the already marked activity we are seeing with our proprietary combination of TG-1101 and TGR-1202 across CLL and NHL could greatly enhance the therapeutic benefit to patients with hematological malignancies. Our goal is to advance both of these antibodies into the clinic in the second half of next year."