Nijmegen, the Netherlands, 23 June 2011 – Today Synthon announced its acquisition of Syntarga BV, a biopharmaceutical company also based in the Netherlands. Syntarga’s activities are focused on the development of innovative chemistries that arm antibodies with a cytotoxic payload - yielding successful Antibody-Drug Conjugate (ADC) products that specifically target and kill cancer cells.
“Through this acquisition we can further strengthen our capabilities in the therapeutic area of oncology,” says Rudy Mareel, CEO of Synthon. “We strongly believe that combining Syntarga’s highly potent cell-killing drugs, releasable linker technologies and linker-drug combinations for conjugation to tumor-specific antibodies with our own expertise and knowledge in small-molecule and monoclonal antibody products will lead to a new generation of effective, targeted medicines in this important therapeutic area.”
“We are delighted that the technology can be further developed under the umbrella of Synthon. I believe that this acquisition will accelerate future patient access to oncology products based on this innovative technology,” says Vincent de Groot, CEO of Syntarga.
Antibodies equipped with Syntarga’s ADC technology deliver deactivated cytotoxins specifically to a cancer cell. Once in the tumor, the cytotoxins are released from the ADC, regaining their full cytotoxic activity. Because of highly specific targeting, side effects of cancer treatment are potentially reduced.
Financial details on the acquisition will not be disclosed.
Kempen & Co served as exclusive financial adviser to Synthon in relation to the transaction.
About Synthon
Synthon, with headquarters in Nijmegen, is a fast-growing pharmaceutical firm that started 20 years ago in the laboratories of Radboud University Nijmegen. The company now employs more than 1,300 staff at 11 sites worldwide, and in 2010 it recorded a turnover of EUR 230 million. Synthon is a leader in the field of generic medicines. It has been working in biotechnology since 2007 and is developing quickly into a ‘specialty pharmaceutical’ firm focusing on the therapeutic areas of Multiple Sclerosis and Oncology. For more information, go to www.synthon.com.
About Syntarga
Syntarga is a privately held biopharmaceutical company engaged in the discovery and development of proprietary Antibody-Drug Conjugate technology and products for the treatment of cancer. The Company’s cutting-edge chemistry capabilities and unique know-how have led to the creation of its antibody empowering Potent Payload Technology. Syntarga is leveraging its proprietary technologies and expertise to generate and commercialize, alone and with partners, a portfolio of next generation Antibody-Drug Conjugate products. For more information: www.syntarga.com.
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For more information:
Fabienne Douven
Senior Manager Corporate Communications
+31 24 372 7759 / +31 6 2297 2772
fabienne.douven@synthon.com
