Chong Kun Dang, Synaffix ink deal to introduce ADC technology

Chong Kun Dang Pharmaceutical Corp. said on Monday that it has signed a contract with Dutch biotechnology firm Synaffix B.V for the use of antibody-drug conjugate (ADC) technology.

The agreement is valued at approximately $132 million, including downpayment and technical fees for various stages such as development, regulatory approval, and sales, with royalty for sales after commercialization to be set later.

Through the deal, Chong Kun Dang aims to secure the use of Synaffix's three ADC technologies and accelerate the development of ADC anticancer drugs. ADC technology combines antibodies specific to antigens with chemical drugs to selectively target cells expressing the antigens.

According to Chong Kun Dang, Synaffix's ADC technology offers efficient production by accurately bonding drugs to antibodies without modifying them. The two companies have been collaborating on ADC research since 2019.

"With this contract, we will fast-track the development of next-generation anticancer drugs that will spearhead the global market," said Kim Young-joo, CEO of Chong Kun Dang.

Write to Jae-Young Han at yjhan@hankyung.com