Synaffix inks $246m deal with ProfoundBio

Under the licence and option agreement Amsterdam-based Synaffix B.V. grants the option Chinese oncology specialist ProfoundBio to access its novel linker-payload technologies  including its GlycoConnect™ glycan conjugation and HydraSpace™ polar spacer technologies as well as novel linker-payloads for the design of antibody drug conjugates (ADCs). The contract adds to another ADC deal with Innovent Biologics last month. ProfoundBio announced a $55m Series A financing last week. Synaffix is eligible to receive upfront and potential milestone payments worth up to $246m, plus tiered royalties on net sales.

ProfoundBio will valdiate Synaffix technology using it for a proprietary therapeutic program that targets an undisclosed specific tumor associated antigen (TAA).  Additionally, ProfoundBio retains license option rights to a second TAA that can be nominated later.

ProfoundBio will be responsible for the research, development, manufacturing and commercialisation of the ADC products.  Synaffix will closely support ProfoundBio’s research activities and be responsible for the manufacturing of components that are specifically related to its proprietary GlycoConnect™, and HydraSpace™ technologies.

The ProfoundBio team brings in decades of ADC development experience from Seattle Genetics (now Seagen) and MSD.