Synaffix B.V., a Dutch biotechnology company focused on the advancement of its clinical-stage antibody-drug conjugate (ADC) technology for the development of best-in-class ADCs, announces that ADC Therapeutics has triggered a third target-specific license under its existing Commercial License Agreement dated October 2016.
This license provides ADC Therapeutics with the rights to Synaffix’s proprietary GlycoConnect™ site-specific antibody-drug conjugation and HydraSpace™ polar spacer technologies to develop and commercialize a third product candidate against a specific target.
Under the terms of the agreement, Synaffix is eligible to receive upfront, milestone and royalty payments on a per-target basis. Further financial details were not disclosed.
Peter van de Sande, CEO of Synaffix said:
“We are very pleased with our collaboration, the rapid progress made by ADC Therapeutics and the successive expansion to date. This third target-specific license taken out by ADC Therapeutics provides further validation of our ADC technology. Since we reached our license agreement, Synaffix’s GlycoConnect™ and HydraSpace™ technologies have continued to demonstrate their ability to generate exceptional ADC product candidates in terms of therapeutic index.”
“2019 has been a tremendous year so far for Synaffix. The first ADC Therapeutics product candidate generated using our technology reached the clinic in January 2019 and we have signed additional commercial license agreements with other partners – Mersana Therapeutics, USA and Shanghai Miracogen, China. We look forward to continuing our close collaboration with our license partners, enabling their best-in-class ADCs and expanding our list of collaborations further.”