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Synaffix B.V. announced on 10 April 2019 that it has entered into a $125 million license agreement with Shanghai Miracogen Inc., a Chinese biotechnology company with a clinical-stage pipeline of ADCs. 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 its next clinical candidate. Synaffix is eligible to receive upfront and potential milestone payments that total $125 million, plus royalties.
Miracogen will be responsible for the research, development, manufacturing and commercialization of the ADC product while Synaffix will be responsible for the manufacturing of components that are specifically related to its proprietary GlycoConnect™ and HydraSpace™ technologies. This agreement follows a research collaboration between the two companies which was centered around a specific drug candidate that has now been selected for clinical development.
goetzpartners securities Limited acted as financial advisior to its client Synaffix B.V. and introduced the parties.
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.
TRANSACTION TEAM Wolf Dornbusch Director Email
Brigitte de Lima Director
Youchen Xin Associate