ProfoundBio Makes $246 Million Deal for Synaffix Linker-Payload Technology
publication date: Jul 22, 2021
ProfoundBio, a Seattle-Suzhou antibody-drug conjugate company, acquired non-exclusive rights to use novel linker-payload technologies from Amsterdam's Synaffix. It will make up to $246 million in upfront and milestone payments, plus tiered royalties on sales. ProfoundBio will have rights to use Synaffix's two linker technologies, GlycoConnect™ glycan conjugation and HydraSpace™ polar spacer, for a specific tumor associated antigen along with an option for a second TAA. Two weeks ago, ProfoundBio closed a $55 million funding for its ADC and IO candidates. More details....
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