Synaffix, MacroGenics Ink Pact For Next Generation Antibody-Drug Conjugates

Synaffix BV has entered into a technology agreement with MacroGenics Inc MGNX.

• Under the licensing agreement, MacroGenics will access Synaffix's clinical-stage GlycoConnect antibody conjugation technology, HydraSpace polar spacer technology, and select toxSYN linker-payloads.
• These will be combined with MacroGenics' proprietary antibody and bispecific DART antibody platform technologies to generate next-generation antibody-drug conjugates (ADCs).
• Under the terms of the agreement, Synaffix will be eligible to receive up to $586 million in payments spanning upfront and milestone payments across three programs plus royalties on commercial sales. 
• The license rights of MacroGenics for each program will be designated as exclusive or non-exclusive to each program's antibody target (or to the combination of two targets, if bispecific). 
• The first program will commence at the signature, with the option to expand the collaboration to a further two programs by March 2023.
• Price Action: MGNX shares are down 1.75% at $11.21 during the market session on the last check Thursday.