MGNX - MacroGenics expands license agreement with Synaffix

2023-03-14 08:34:09 ET

• Synaffix has announced the expansion of its license agreement with MacroGenics ( NASDAQ: MGNX ), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer.
• The expansion comes just a year after the original Feb. 2022 deal, increasing the total potential consideration by up to $2.2B, plus tiered low to high single-digit royalties on potential net sales of any resulting products.
• Under the original licensing agreement, MacroGenics gained access to Synaffix's clinical stage GlycoConnect™ antibody conjugation technology, HydraSpace™ polar spacer technology, as well as select toxSYN™ linker-payloads.
• "The expansion of our agreement with MacroGenics is a significant milestone for Synaffix that further underscores the growing momentum behind our proprietary ADC technology." said Anthony DeBoer, VP of Business Development at Synaffix.

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