[Asia Economy Reporter Lee Gwan-ju] Chong Kun Dang announced on the 3rd that it has signed an ADC platform technology licensing agreement with Synaffix, a Netherlands-based antibody-drug conjugate (ADC) specialist company.
The total contract amount, including the signing fee and milestones, is $132 million (approximately 160 billion KRW), but detailed information will be withheld until the payment date at Synaffix's request.
Chong Kun Dang plans to apply Synaffix's ADC platform technology to its internally developed antibodies for ADC development.
ADC is a technology that links antibodies, which bind only to specific antigens, with highly effective chemotherapeutic drugs, enabling the drugs to selectively target cancer cells expressing the antigen. It has recently attracted attention as the next-generation growth engine in the pharmaceutical and biotech industries.
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