Swiss company Lonza acquires Synaffix to boost ADC offering
The deal amount includes an initial $107.17m cash consideration and an additional performance-based consideration of $64.3m.
Switzerland-based company Lonza has boosted its antibody-drug conjugates (ADCs) offering with the acquisition of Dutch biotechnology company Synaffix for a total consideration of $172m (€160m).
The deal includes $107.17m (€100m) of initial financial consideration in cash and an additional $64.3m (€60m) in performance-based consideration.
Synaffix is focused on the commercialisation of its clinical-stage technology platform to develop ADCs that offer a range of potential targeted treatments for cancer.
Lonza stated that the deal will further boost its bioconjugates offering by integrating the Synaffix technology platform, which includes site-specific linker technology and payload, as well as Synaffix’s R&D capabilities.
It also noted that the combination of the company’s development and manufacturing capabilities and the Synaffix ADC technology platform will offer a comprehensive service for customers and licensees to quickly discover, develop, scale up and commercialise new ADCs.
This is expected to streamline the path for ADCs to clinical trial and commercialisation.
Lonza Licensing vice-president Ulrich Osswald said: “The Synaffix ADC technology is the gold standard, helping clinical-stage developers to design potentially curative therapies in areas of high unmet medical need.
“The acquisition of Synaffix underlines the strategic position of bioconjugates within Lonza’s portfolio, expands our offering in this fast-growing market and enhances our value proposition for clinical customers.
“With Synaffix, our combined industry-leading knowledge and capabilities have the capacity to support both clinical and commercial needs.”
Synaffix ADC technology platform includes toxSYN, HydraSpace, and GlycoConnect technologies which can improve the tolerability and efficacy of ADCs.
Both companies will expand their Center of Excellence for the development of bioconjugate technology, with a focus on out-licensing bioconjugates technologies for targeted gene therapy, cytotoxic ADCs, and immune cell engagers applications.
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