Miracogen Inks $125M Licensing Deal with Synaffix to Advance Best-in-Class ADC Pipeline

VCBeat (WeChat Official Account: vcbeat) has learned that on April 10, Synaffix BV, a biotechnology company headquartered in the Netherlands, announced that it had signed a licensing agreement with Shanghai Meiyake Biotechnology Co., Ltd. Under the terms of the agreement, Meiyake Biotechnology obtains non-exclusive rights to Synaffix’s two antibody-drug conjugate (ADC) proprietary technologies, GlycoConnect and HydraSpace. Synaffix will receive an upfront payment and future milestone payments totaling $125 million, plus royalties.

Antibody-Drug Conjugates (ADCs) are complexes composed of monoclonal antibodies, linkers, and small-molecule drugs. As a novel class of targeted, high-efficacy antitumor agents, they combine the specific target-binding capability of monoclonal antibodies with the potent cytotoxicity of small-molecule drugs, enabling efficient tumor cell killing with minimal side effects.

Under the agreement, Meiyake Biotech is responsible for the development, manufacturing, and commercialization of the licensed ADC products, while Synaffix is responsible for producing specific components related to its two proprietary technologies, GlycoConnect and HydraSpace. Notably, prior to signing this agreement, the two companies had completed a research collaboration on a specific candidate drug, which has now been selected for clinical development.

Meiyake Biotechnology, a Sino-US joint venture, was established in early 2014 in Zhangjiang Hi-Tech Park, Pudong, Shanghai. It is a leading Chinese biotechnology company specializing in the development of antibody-drug conjugates (ADCs). The company is dedicated to the research and development, clinical studies, and commercialization of ADCs and innovative antibody-based anti-tumor drugs, boasting a pipeline of ADC candidates in clinical stages. Currently, Meiyake Biotechnology is developing multiple novel targeted ADC therapeutics primarily focused on the treatment of colorectal cancer, head and neck cancer, lung cancer, breast cancer, gastric cancer, and lymphoma.

Synaffix is a clinical-stage biotechnology company dedicated to generating highly competitive ADC candidates using its site-specific conjugation ADC technology platform. Synaffix’s business model is based on out-licensing its technology.

The acquisition of GlycoConnect and HydraSpace can significantly enhance the efficacy and tolerability of antibody-drug conjugates (ADCs), thereby enabling the development of best-in-class ADCs. GlycoConnect, as a conjugation technology, enables site-specific conjugation by leveraging natural glycosylation sites. HydraSpace is a highly polarized linker technology. Both technologies can be directly applied to any existing antibody without requiring additional protein engineering and are compatible with all classes of ADC toxins. The accumulating experience from Synaffix and its partners continues to demonstrate that GlycoConnect and HydraSpace yield more effective and better-tolerated ADCs compared to the three major ADC conjugation technologies currently available.

Dr. Hu Chaohong, Chairman and CEO of Meiyake Biotechnology, stated, “We are delighted to have reached a licensing agreement with Synaffix. We believe that Synaffix’s proprietary GlycoConnect and HydraSpace technologies will further advance therapeutic standards and enhance the differentiated advantages of our ADC product pipeline. Our efficient collaboration over the past five months has already provided Meiyake’s pipeline with highly competitive new assets. We look forward to continuing our partnership to advance this candidate into clinical studies, ultimately benefiting cancer patients.”

Peter van de Sande, CEO of Synaffix, stated, “Our collaboration with Shanghai Meiyake Biotechnology Co., Ltd. has been highly beneficial. As we jointly transition into the clinical development phase, this licensing agreement provides further validation of the value of our GlycoConnect and HydraSpace technologies.”

Peter van de Sande added, “China is demonstrating strong momentum in the development of innovative products, and antibody-drug conjugates (ADCs) have become a significant growth driver in the field of oncology. Our proprietary technology enhances the therapeutic efficacy of ADCs, thereby addressing the current unmet need for clinical candidates and driving further growth of our business in China and other markets.”

(Compiled by: Li Chengping)