South Korean Chong Kun Dang Pharm has licenced access to Amsterdam-based Synaffix BV’s propietary ADC platform.
Though the companies did not give any financial details, former licencing deals of Synaffix to global pharma companies such as Amgen or ranged between €400m and €500m per programme including upfront and milestone payments. Und the deal with the South-Korean Chong Kun Dang Pharm (CKD), Synaffix will provide access to its proprietary Antibody-Drug Conjugate (ADC) technologies GlycoConnect™ and HydraSpace™, in combination with an undisclosed toxSYN™ linker-payload, to develop an ADC portfolio against a single cancer target.
Under the terms of the agreement, Synaffix has received an upfront payment and is eligible to receive further milestone payments plus royalties on commercial sales. CKD will be responsible for the research, development, manufacturing and commercialisation of the ADCs. Synaffix will be responsible for the manufacturing of components that are specifically related to its proprietary technologies.
RM Global Partners LLC and DLA Piper LLP (US) acted as CKD’s advisors for this transaction.
The Synaffix platform enables a rapid timeline to clinic due to the established supply chain of technology components. Granted patents covering Synaffix’ technology provide end-to-end protection of the manufacturing technology as well as the resulting products through at least 2035. The business model of Synaffix is target-specific technology out-licensing, as exemplified through its existing deals with Amgen, ADC Therapeutics, Mersana Therapeutics, Shanghai Miracogen, Innovent Biologics, ProfoundBio, Kyowa Kirin, Genmab, Macrogenics and Emergence Therapeutics.