PB:
Genmab and Synaffix Enter into License Agreement for ADC Technology
Media Release
Synaffix to provide access to proprietary antibody-drug conjugate (ADC) technologies
Genmab secures rights for conducting research on ADCs against multiple drug targets with options for exclusive worldwide development and commercialization of resulting therapies
Synaffix to receive an upfront payment of USD $4.5 million with a total deal value of up to USD $415 million plus tiered single digit royalties on sales of successfully commercialized therapies
COPENHAGEN, Denmark and AMSTERDAM, Netherlands; 4 January, 2022 — Genmab A/S (Nasdaq: GMAB) and Synaffix B.V., announced today that Genmab and Synaffix have signed a license agreement providing Genmab broad access to Synaffix’s ADC technologies. Genmab is granted exclusive research rights to utilize Synaffix ADC technologies for one drug target with the option for the worldwide development and commercialization of the resulting ADCs. Genmab has the option to exercise exclusive research and commercial licenses for additional targets.
For each specific target nominated under the license agreement, Genmab gains exclusive access to Synaffix’s clinical-stage GlycoConnect™ antibody conjugation technology, HydraSpace™ polar spacer technology, as well as select toxSYN™ linker-payloads, each designed to enable ADCs with best-in-class efficacy and tolerability for the development of multiple potential therapies.
Genmab will be responsible for the research, development, manufacturing and commercialization of any resulting ADC therapies. At the same time, Synaffix will support Genmab’s research activities, including manufacturing of components that are specifically related to its proprietary ADC technologies.
“At Genmab, we are committed to bringing differentiated medicines to patients, and we believe collaborations are foundational to accelerate innovation,” said Jan van de Winkel, Ph.D., Chief Executive Officer, Genmab. “We look forward to working with Synaffix toward our shared goal of developing best-in-class or first-in-class antibody therapies and make an impact on the lives of patients.”
“In what represents our fifth out-licensing deal in the last six months, we are thrilled to partner with Genmab, an international biotechnology company,” said Peter van de Sande, Chief Executive Officer of Synaffix. “In deploying our cutting-edge ADC technology platform together with Genmab’s robust antibody development capabilities, Synaffix is privileged to once more play an essential role in strengthening a partner’s pipeline with our innovative ADC technologies thereby aiding the transformation of cancer treatment.”
Financial Terms
Under the terms of the agreement, Synaffix will receive an upfront payment of USD $4.5 million and, on a target-by-target basis, is eligible to receive option-exercise, development-, regulatory- and commercial milestone payments. The total potential deal value is USD $415 million plus tiered, mid-single digit royalties on commercial sales.