Synaffix announces expansion of license agreement with Shanghai Miracogen Inc. to a second ADC candidate
AMSTERDAM--(BUSINESS WIRE)--Jan 7, 2020--
Synaffix B.V., a biotechnology company focused on enabling antibody-drug conjugates (ADCs) with superior therapeutic index based on its proprietary ADC technologies, announces that Shanghai Miracogen Inc., a Chinese biotechnology company with a clinical-stage pipeline of ADCs, has expanded its existing collaboration by taking a license to develop and commercialize a second product candidate.
Under the terms of the agreement, Miracogen has been granted non-exclusive rights to Synaffix’s proprietary GlycoConnect™ and HydraSpace™ ADC technologies for use in this second clinical candidate. Synaffix is eligible to receive upfront, milestone and royalty payments tied to this new program. Further financial details were not disclosed.
The original agreement was announced in April 2019, with Miracogen responsible for the research, development, manufacturing and commercialization of its ADC product, and Synaffix responsible for the manufacturing of components specifically related to its proprietary ADC technologies.
Peter van de Sande, CEO of Synaffix said:
“This expansion of our licensing agreement has resulted from the rapid and successful progression of Miracogen’s first ADC program with us and our strong working relationship. With six announced ADCs now under clinical or preclinical development based on Synaffix platform technologies, this expansion serves as further testament to the maturity of our proprietary ADC technologies.
“We look forward to continuing to work closely with Miracogen to develop innovative ADCs with enhanced therapeutic indexes for the treatment of cancer.”
Mary Hu, CEO of Shanghai Miracogen added:
“Having worked with Synaffix over the past year and having seen highly positive results arising from the use of the GlycoConnect and HydraSpace technologies, we decided to expand the license agreement into a second ADC candidate. Using Synaffix’s platform, we hope to develop an additional ADC product candidate with an enhanced therapeutic index, and ultimately benefit cancer patients.”
Notes to Editors
About GlycoConnect™ and HydraSpace™
The clinical-stage GlycoConnect™ and HydraSpace™ technologies enable best-in-class ADCs with significantly enhanced efficacy and tolerability. GlycoConnect™ is the conjugation technology that exploits the native glycan for site-specific and stable payload attachment. HydraSpace™ is the compact and highly polar spacer technology. These technologies can be applied directly to any existing antibody without any protein sequence engineering and are compatible with all ADC payload classes.
The growing experience of Synaffix and its collaboration partners continues to confirm the ability of GlycoConnect™ and HydraSpace™ to consistently generate ADCs that are more effective and better tolerated when compared to the three major clinical-stage ADC conjugation technologies.
About Synaffix B.V.
Synaffix B.V. is a Dutch biotechnology company that enables highly competitive ADC product candidates using its clinical-stage, site-specific ADC technology platform. In addition to GlycoConnect™ and the ADC-enhancing HydraSpace™ technology, the extension of the platform with toxSYN™ payloads provides a fully complimentary technology platform that enables any company with an antibody to develop superior, proprietary ADC products.
The Synaffix platform comes with an IND-ready CMC package to support a rapid timeline to the clinic. Granted patents covering Synaffix’s technology provide end-to-end protection of the platform technology as well as resulting products through at least 2035. The business model of Synaffix is target-specific technology out-licensing, as exemplified through its existing deals with Shanghai Miracogen, Mersana Therapeutics and ADC Therapeutics.
Synaffix is backed by a top tier, European, life science-focused investor syndicate that includes Aravis, BioGeneration Ventures, BOM Capital and M Ventures.
For more information, please visit the website at www.synaffix.com.
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CONTACT: Synaffix BV
Director, Business Development
Melanie Toyne-Sewell / Phil Marriage
Tel: +44 207 457 2020
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PUB: 01/07/2020 03:00 AM/DISC: 01/07/2020 03:01 AM