AMSTERDAM, NETHERLANDS – January 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.”