Synaffix BV has entered into a technology agreement with MacroGenics Inc (NASDAQ: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.
