
Amgen kicks off 2023 dealmaking with busy ADC upstart Synaffix
Amgen started off the new year with a bang, joining forces with ADC player Synaffix and agreeing to dole out as high as $2 billion in Synaffix’s largest ADC licensing deal to date.
The Dutch biotech — running in the same circles as ADC Therapeutics, Seagen, MacroGenics and Emergence Therapeutics — said Thursday that it secured a licensing deal with Amgen to develop new ADCs. As part of the deal, the Big Pharma gets access to Synaffix’s ADC platforms and technology, starting out with one ADC program. Amgen retains an option to exclusively license four more programs at a later date, but what those programs could be remains under wraps.
Amgen is shelling out $2 billion to get its hands on the technology, and those payments span program nomination and milestone payments, plus tiered royalties on commercial sales. A Synaffix spokesperson tells Endpoints News that there is an upfront payment, but that amount remains undisclosed.
Amgen will be doing all the R&D, manufacturing and commercialization of the ADCs, leaving Synaffix to only be responsible for manufacturing of components specifically related to its in-house technologies.
Amgen declined to comment outside of Synaffix’s announcement.
This new deal comes right after Synaffix announced another licensing agreement with Singapore biotech Hummingbird Bioscience, where Hummingbird will be paying out $150 million in upfront and milestone payments, plus royalties on net sales.
The deal with Amgen marks the biotech’s 12th collaboration and it now has close to two dozen programs in development. Synaffix will invest in manufacturing to deliver certain technological components in a bid to shorten candidate time to the clinic. The biotech is also branching out into targeted gene therapy and immune cell engagers, with a spokesperson saying that the biotech will be sharing data in those fields later in the year to support BD activity.
The biotech currently has partnered programs with companies like Innovent and Genmab, with Janssen as its other Big Pharma partner in multiple undisclosed programs.