Innovent Announces License Agreement with Synaffix in an ADC Technology Deal

SAN FRANCISCO and SUZHOU, China, June 28, 2021 / PRNewswire / – Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and markets high quality drugs for the treatment of cancer, metabolic, autoimmune and other serious diseases, announced the signing of a non-exclusive specific license agreement with Synaffix BV, a biotechnology company focused on commercializing its clinical-stage platform technology that enables antibody-drug conjugates (ADCs) with a world-class therapeutic index.

Under the terms of the agreement, Synaffix will provide all proprietary ADC technologies necessary, including GlycoConnect ™, HydraSpace ™ and one of its toxSYN ™ linker payloads, to enable Innovent to rapidly advance one of its antibodies as a best-in-class ADC candidate. The deal is the culmination of a successful initial proof-of-concept research phase between the companies.

With the signing, Innovent receives the rights to use the above-mentioned ADC technologies for a therapeutic molecule. Innovent will be responsible for the research, development, manufacture and marketing of the ADC product. Synaffix will closely support Innovent’s research activities and be responsible for manufacturing components specifically related to its proprietary technologies.

Under the terms of the agreement, Synaffix is ​​entitled Receive prepayment, Potential Milestone payments related to certain development and sales performance achievements as well Royalty based on potential future commercial sales of the ADC product.

DR. Yongjun Liu, President of Innovent: “We are excited to partner with Synaffix as Innovent expands its pipeline into the ADC space. Our collaboration with Synaffix adds a promising new ADC candidate to our preclinical pipeline by providing the most validated, differentiated and innovative Leverage Synaffix’s ADC technology platform. ” and Innovent’s strong antibody capabilities. Based on Synaffix’s seamless partnering model, we could quickly combine Synaffix’s ADC technologies with Innovent’s antibodies, generate compelling research data and move the project forward quickly. “

Peter van de Sande, Synaffix CEO, said: “This collaboration is another example of the potential of the Synaffix platform to improve the competitive position of our partners in the ADC space. Innovent is an ideal partner for Synaffix and due to its strategic focus on innovative drugs strong R&D capacity for high quality biological medicines. We look forward to working closely together on this exciting development program. “

About innovation

Inspired by the spirit of “Start with Integrity, Succeed through Action”, Innovent’s mission is to develop, manufacture and commercialize high quality biopharmaceutical products that are affordable for ordinary people. Founded in 2011, Innovent is dedicated to developing, manufacturing and marketing high quality innovative drugs for the treatment of cancer, autoimmune diseases, metabolic diseases and other serious medical conditions. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited under stock code: 01801.HK.

Since its inception, Innovent has developed a fully integrated multifunctional platform that includes R&D, Chemistry, Manufacturing and Control (CMC), clinical development and commercialization. Using the platform, the company has built a solid pipeline of 24 valuable assets in cancer, metabolism, autoimmune disease and other major therapeutic areas with 5 products – TYVYT® (sintilimab injection), BYVASDA® (bevacizumab biosimilar injection), SULINNO® (adalimumab biosimilar injection), HALPRYZA® (rituximab biosimilar injection) and PEMAZYRE® (pemigatinib oral inhibitor) – officially approved for marketing, approval of the Biologics License Application (BLA) of Sintilimab in the USA, 5 Investments in Phase 3 or pivotal clinical trials, and another 14 molecules in clinical trials. In 2019, TYVYT® was the first PD-1 inhibitor to be listed on the National Reimbursement Drug List (NRDL) and the only PD-1 inhibitor to be listed on the NRDL that year.

Innovent has built an international team of advanced talents in the development and commercialization of high quality biological medicines, including many global experts. The company has also entered into strategic alliances with Eli Lilly and Company, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with many employees to move forward China biopharmaceutical industry, improve drug availability and improve patient quality of life. For more information, please visit: www.innoventbio.com.

About Synaffix BV

Synaffix BV is a biotechnology company enabling ADC product candidates at the clinical stage using its site-specific ADC technology platform. In addition to GlycoConnect ™ and HydraSpace ™ technology, the toxSYN ™ linker payload platform completes a fully complementary technology platform that enables any company with an antibody to add proprietary best-in-class ADC products under a single license from Synaffix develop.

The Synaffix platform enables a fast timeline up to the clinic due to the established supply chain of technology components. Granted patents for Synaffix’s technology offer end-to-end protection of the manufacturing technology and the resulting products until at least 2035. Synaffix’s business model consists of target-specific out-licensing of technology, as the existing contracts with ADC Therapeutics show, Mersana Therapeutics and Shanghai Miracogen.

Synaffix is ​​supported by a high-ranking European investor consortium with a focus on life sciences, which includes Aravis, BioGeneration Ventures, BOM Capital and M Ventures.

For more information, see the website at www.synaffix.com.

Note: TYVYT® (sintilimab injection).BYVASDA® (bevacizumab biosimilar injection), SULINNO® (adalimumab biosimilar injection) and HALPRYZA® (rituximab biosimilar injection) are not allowed in The United States.

Innovent Biologics, Inc. Forward-Looking Statements

This press release may contain certain forward-looking statements that by their nature are subject to significant risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” and similar expressions relating to Innovent are intended to identify certain forward-looking statements. Innovent does not intend to update these forward-looking statements on a regular basis.

These forward-looking statements are based on the beliefs, assumptions, expectations, estimates, projections and understandings of Innovent’s management regarding future events at the time these statements were made. These statements are not guarantees of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent’s control and difficult to predict. As a result, actual results could differ materially from the information contained in the forward-looking statements due to future changes or developments in our business, the competitive landscape of Innovent, and political, economic, legal and social conditions.

Innovent, the Directors and the employees of Innovent undertake (a) no obligation to correct or update any forward-looking statements contained on this site; and (b) no liability in the event that any of the forward-looking statements are incorrect or prove to be incorrect.

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SOURCE Innovent Biologics

Company codes: Hong Kong: 1801, OTC PINK: IVBIY

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