Mersana Therapeutics, Synaffix Expand Cancer Pact To Potential Value Exceeding $1B

Synaffix B.V. has expanded its license agreement with Mersana Therapeutics Inc MRSN for antibody-drug conjugates (ADCs) targeting cancers. The expansion builds on the long-term relationship between the two companies announced in 2019.

• Under the expanded license agreement, Mersana will expand its access to Synaffix's GlycoConnect site-specific ADC bioconjugation technology for six additional ADC targets. 
• The license rights granted to Mersana are tied to specific ADC targets to be selected and provide non-exclusive access to deploy GlycoConnect site-specific ADC bioconjugation technology against the specified targets. 
• Under the expanded deal, Synaffix can receive upfront and milestone payments on a per-target basis with a total potential deal value exceeding $1 billion-plus royalties. 
• Mersana will continue to be responsible for the research, development, manufacturing, and commercialization of any resulting ADC products.
• Related Link: Mersana Highlights New Preclinical Data For XMT-2056 Cancer Settings.
• Price Action: MRSN shares closed 4.46% lower at $6.64 on Monday.