AMSTERDAM–(BUSINESS WIRE)–Synaffix B.V., a Dutch biotechnology company exclusively focused on
continued advancement of its clinical-stage antibody-drug conjugate
(ADC) technology for the development of best-in-class ADCs, announces
that it has entered into a license agreement with Shanghai Miracogen
Inc., a Chinese biotechnology company with a clinical-stage pipeline of
ADCs.

Under the terms of the agreement, Miracogen has been granted
non-exclusive rights to Synaffix’s proprietary GlycoConnect™ and
HydraSpace™ ADC technologies for use in its next clinical candidate.
Synaffix is eligible to receive upfront and potential milestone payments
that total $125 million, plus royalties.

Miracogen will be responsible for the research, development,
manufacturing and commercialization of the ADC product while Synaffix
will be responsible for the manufacturing of components that are
specifically related to its proprietary GlycoConnect™ and HydraSpace™
technologies.

This agreement follows a research collaboration between the two
companies which was centered around a specific drug candidate that has
now been selected for clinical development.

Mary Hu, Chairman and CEO of Miracogen, said:

“We are very pleased to have reached this license agreement with
Synaffix. We believe that their GlycoConnect™ and HydraSpace™
technologies will further differentiate our pipeline of ADCs by
delivering valuable expansion of the therapeutic index. Our efficient
and collaborative relationship during the research phase has provided us
with a highly competitive new asset for the Miracogen pipeline in just a
five-month timeframe. We look forward to continuing our collaboration as
we advance this candidate into the clinic and beyond to benefit cancer
patients.”

Peter van de Sande, CEO of Synaffix, said:

“Working with Miracogen has been a rewarding experience. As we
transition into the development phase together, this license agreement
with Miracogen provides additional validation of our GlycoConnect™ and
HydraSpace™ technologies.”

“There is a clear trend in China towards developing innovative products
and as such, ADCs have emerged as a strong area of growth within the
field of oncology. Our proprietary technologies can address the current
unmet need for clinical candidates with an enhanced therapeutic index,
thereby driving further growth of our activities in China and other
markets.”

-Ends-

Notes to Editors

About GlycoConnect™ and HydraSpace™

The clinical-stage GlycoConnect™ and HydraSpace™ technologies enable
best-in-class ADCs with significantly enhanced efficacy and
tolerability. GlycoConnect™ is the conjugation technology that exploits
the native glycan for site-specific and stable payload attachment.
HydraSpace™ is the compact and highly polar spacer technology. These
technologies can be applied directly to any existing antibody without
any protein engineering and are compatible with all ADC payload classes.

The growing experience of Synaffix and its collaboration partners
continues to confirm the ability of GlycoConnect™ and HydraSpace™ to
consistently generate ADCs that are more effective and better tolerated
when compared to the three major clinical-stage ADC conjugation
technologies.

About Synaffix B.V.

Synaffix B.V. is a Dutch biotechnology company that enables highly
competitive ADC product candidates using its clinical-stage,
site-specific ADC technology platform. In addition to GlycoConnect™ and
the ADC-enhancing HydraSpace™ technology, the extension of the platform
with toxSYN™ payloads provides a fully complimentary technology platform
that enables any company with an antibody to develop superior,
proprietary ADC products.

The Synaffix platform comes with an IND-ready CMC package to support a
rapid timeline to the clinic. Granted patents covering Synaffix’s
technology provide end-to-end protection of the platform technology as
well as resulting products through at least 2035. The business model of
Synaffix is target-specific technology out-licensing as exemplified
through deals with ADC Therapeutics and Mersana Therapeutics.

Synaffix is backed by a top tier, European, life science-focused
investor syndicate that includes Aravis, BioGeneration Ventures, BOM
Capital and M Ventures.

For more information, please visit the website at www.synaffix.com.

Contacts

Synaffix BV Contact
Anthony DeBoer
Director, Business
Development
bd@synaffix.com