Elevation Oncology Licenses ADC Technology from Synaffix to Drive Pipeline Expansion

• Licensing agreement gives Elevation Oncology access to Synaffix's ADC technology for one program in combination with SYNstatin E™
• Elevation Oncology nominates a novel HER3 ADC candidate EO-1022 leveraging its antibody as well as Synaffix’s proprietary ADC development technologies

AMSTERDAM, THE NETHERLANDS, 12 December 2024 — Synaffix B.V., a Lonza company (SIX:LONN) focused on commercializing its clinical-stage platform technology for the development of antibody-drug conjugates (ADCs) with best-in-class therapeutic index, today announces that it has entered into a licensing agreement with Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs.

Synaffix gives Elevation Oncology global access to its clinical stage, site-specific ADC technology platform, including GlycoConnect® antibody conjugation technology, HydraSpace® polar spacer technology, as well as the toxSYN® linker-payload, SYNstatin E™, which enables the transformation of Elevation Oncology’s antibody into a differentiated ADC with best-in-class potential.

Under the terms of the agreement, Synaffix is eligible to receive up to USD 368 million in upfront and clinical, regulatory, and commercial milestone payments, plus tiered royalties on net sales. Synaffix is responsible for manufacturing the components related to its proprietary technologies, and Elevation Oncology is responsible for the research, development, manufacturing, and commercialization of the ADC.

Peter van de Sande, Head of Synaffix, said: “As a dedicated partner in the ADC space, Synaffix is excited to collaborate with Elevation Oncology to push the boundary of ADC innovation. With our state-of-the-art ADC technology platform and established supply chain, Elevation is well-positioned to accelerate the development of its differentiated HER3 ADC.”

David Dornan, Chief Scientific Officer at Elevation Oncology, commented: “Our partnership with Synaffix enables us to build a HER3 ADC candidate with best-in-class potential, which leverages Synaffix's state-of-the-art site-specific conjugation and differentiated linker-payload for a potentially improved safety and efficacy profile. We look forward to advancing our pipeline as we work toward transforming the care and treatment of patients living with solid tumors that express HER3.”