12:00 AM
Feb 24, 2014
 |  BioCentury  |  Finance

Lean machine for ADCs

SynAffix investors want ADC company to focus on platform tech, not products

Platform companies are notorious for the heavy cash required to turn their platforms into products, but SynAffix B.V. investors are taking a different tack. The syndicate in last week's series A round is hoping for a big return by keeping the company financially lean.

The plan is to focus on optimizing the biotech's ADC technology rather than putting a lot of cash into products.

On Feb. 18, SynAffix raised an undisclosed amount from Aravis; BioGeneration Ventures; MS Ventures, which is the strategic VC fund of the Merck Serono division of Merck KGaA (Xetra:MRK); and BOM Capital.

CEO Peter van de Sande said the funds would be used to further validate and optimize the company's GlycoConnect technology, which can attach a toxic payload to a mAb in a site-specific manner without the need for antibody mutagenesis or protein engineering.

MS Ventures' Hakan Goker thinks GlycoConnect offers the best combination of stability and homogeneity among ADC technologies.

Goker acknowledged that in-house pipelines are typically necessary for platform players when pharma companies already have access to similar capabilities, such as mAbs.

He said it is a different story for ADC conjugation platforms, because "the ability to demonstrate a differentiation versus other platforms on the characteristics of site specificity, stability, PK and speed in generating molecules...

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