June 1 Quick Takes: Lonza expands ADC offering with Synaffix takeout

Lonza Group Ltd. (SIX:LONN) is adding a next-generation antibody-drug conjugate platform to its development and manufacturing services via the €100 million ($107.3 million) acquisition of Dutch biotech Synaffix B.V. Founded in 2010, Synaffix had raised just one undisclosed series A round, after which it relied on a series of out-licensing deals to finance the development of its ADC linker and payload technologies without developing its own in-house pipeline of programs. The biotech had 12 disclosed partners, with three having ADC programs that had reached Phase I testing. In addition to the upfront payment, Synaffix investors are eligible for up to €60 million in performance-based milestones. 

The deal gives Lonza a more integrated ADC offering, which will now include the conjugate linker and payload technologies themselves, in addition to process development and manufacturing. The deal is the latest in a flurry of recent activity focused on ADCs...